Showing 1 - 10 of 1,829
This paper investigates increased liquidity provision by market makers resulting from their ability to reduce balance …-by-trade data from sovereign bond markets, we show that liquidity provision by CCP members decreased to a lesser extent following …
Persistent link: https://www.econbiz.de/10012798918
The paper investigates the influence of the speed of liquidation of insolvent firms on leverage. The theoretical model presented formalizes the intuitive view that an increase in liquidation speed is expected to decrease average leverage as highly leveraged firms exit. Analysis of Indian data,...
Persistent link: https://www.econbiz.de/10014525450
-shares of the same fund during the unprecedented liquidity crisis in March 2020. For an average bond or equity mutual fund … collective "dash for cash" by consumers and firms in need of liquidity at the outset of the COVID-19 pandemic was not the source …
Persistent link: https://www.econbiz.de/10014482949
to relax a liquidity constraint. The dual nature of equity in the search-and-matching market entails a strategic … complementary in search operating through buyers' liquidity constraint, and it gives rise to endogenous booms and busts. The economy …
Persistent link: https://www.econbiz.de/10014633356
profitability, liquidity and solvency. Through na empirical and analytical research, the analysis of variance results (ANOVA) of a … working capital structures are associated with different levels of profitability, liquidity and solvency, suggesting a … – is associated with higher levels of profitability, liquidity and solvency. In addition, the study reiterates the …
Persistent link: https://www.econbiz.de/10014167368
). Aggregate liquidity can be seen as the rate of change of the aggregate balance sheet of the financial intermediaries …. -- Financial market liquidity ; financial cycles ; financial intermediary leverage …
Persistent link: https://www.econbiz.de/10003781549
Liquidity backstops have important implications for financial stability. In this paper, we provide a microfoundation … for the important role of liquidity backstops in mitigating runs (or, conversely, the role of the lack of liquidity … financial crisis of 2007-09 provide a natural experiment to identify the value of a liquidity backstop in mitigating runs …
Persistent link: https://www.econbiz.de/10011396851
This paper investigates resiliency to provide a dynamic perspective on liquidity. We define resiliency as the rate of … mean reversion in liquidity. Resiliency increases with the proportion of patient traders, decreases with order arrival rate … robust with respect to the order book depth at which liquidity is measured. …
Persistent link: https://www.econbiz.de/10010485484
liquidity risks accumulated by this market maker affect his pricing of liquidity and the bid/ask spread he quotes on unsecured … borrowing and lending. We find that the larger the funding liquidity risk assumed by the market maker is, the higher the market … price for liquidity. Furthermore, his bid/ask spread and the sensitivity of his bid/ask spread to the maturity of the …
Persistent link: https://www.econbiz.de/10011382521
's characteristics like liquidity, rates of return, shareholders' base etc. Considering the time period 2000–May 2011 the author examines …–percent significant deterioration of this proxy of liquidity. Additionally, the greatest amplitude of abnormal changes in … liquidity is observed during two trading sessions around the actual stock split although there is provided no new information to …
Persistent link: https://www.econbiz.de/10013088175