, we study the implications of the interaction between incentive compatibility and participation constraints for risk …

I investigate whether information quality affects the cost of equity capital through liquidity risk. Liquidity risk is … the importance of this systematic risk. I find that higher information quality is associated with lower liquidity risk and … association between information quality and liquidity risk is stronger in times of large shocks to market liquidity …

In this paper, we study consumption risk sharing when individual income shocks are persistent and not publicly …