This study contains the effects of bid-ask spread, firm size and liquidity against price reversal phenomena at …

portfolios, but liquidity comes at a cost: inflation. The OTC market serves as a secondary asset market, in which agents can … rebalance their positions depending on their liquidity needs. Hence, a contribution of our paper is to provide a micro … value because they help agents avoid the inflation tax. -- monetary-search models ; liquidity ; asset prices ; over …

led to the creation of excessive global liquidity, which has contributed to asset price bubbles. Although the exchange …

categories of firm. Some of the changes in returns reflect changes in liquidity, while the remainder reflect adjustments to the …

We examine the causes and consequences of insiders' liquidity needs as a motivation for the secondary sales in an … the levels of insider sales, and (4) higher levels of insider sales due to liquidity needs result in lower levels of … underpricing and long-run returns. Taken together these results also suggest that liquidity induced secondary sales can be a source …

. This is a relatively exogenous overvaluation indicator as it is associated with who is buying, buyers with excess liquidity …