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Liquidity Risk in Sequential Trading Networks
Kariv, Shachar - 2017
This paper develops a model of intermediated exchange with budget-constrained traders who are embedded in a trading network. An experimental investigation confirms the theory's baseline predictions. Traders adopt monotone strategies with higher-budget intermediaries offering to pay more for...
Persistent link: https://www.econbiz.de/10012967921
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Executive Network Centrality and Stock Liquidity
Egginton, Jared F. - 2018
We examine the relationship between stock market liquidity and the network centrality of firm executives. We find that firms whose executive officers are more central in the network of executives have narrower spreads and reduced stock liquidity costs. We use an exogenous network centrality...
Persistent link: https://www.econbiz.de/10012917942
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Board Interlocks and Stock Liquidity : New Evidence from an Emerging Market
Mbanyele, William; Wang, Fengrong - 2021
This study examines the implications of board interlocks on stock liquidity using a sample of listed Brazilian firms. The instrumental variable two-stage least squares estimation is used to minimize endogeneity concerns. This study provides evidence that board interlocks are positively related...
Persistent link: https://www.econbiz.de/10013248345
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Compressing Over-the-Counter Markets
D'Errico, Marco; Roukny, Tarik - 2021
In this paper, we show both theoretically and empirically that the size of over-the-counter (OTC) markets can be reduced without affecting individual net positions. First, we find that the networked nature of these markets generates an excess of notional obligations between the aggregate gross...
Persistent link: https://www.econbiz.de/10013248954
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Estimating the structure of the payment network in the LVTS : an application of estimating communities in network data
Chapman, James; Zhang, Yinan - 2010
the data. -- Payment, clearing, and settlement systems ; financial stability …In the Canadian large value payment system an important goal is to understand how liquidity is transferred through the … relationships between participants in the payment system is a crucial step in achieving the goal. The set of nodes in any given …
Persistent link: https://www.econbiz.de/10003981323
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Applications of liquidity risk discovery using financial market infrastructures transaction archives
Heuver, Richard - 2020
Persistent link: https://www.econbiz.de/10012294786
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CDS Central Counterparty Clearing Liquidation : Road to Recovery or Invitation to Predation?
Tywoniuk, Magdalena - 2020
Recent regulation, mandating the clearing of credit default swaps (CDS) by a Central Clearing Counterparties (CCP), has …
Persistent link: https://www.econbiz.de/10012844084
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Central counterparties and liquidity provision in cash markets
Richter, Thomas - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-26
This paper investigates increased liquidity provision by market makers resulting from their ability to reduce balance sheet encumbrance through the use of central counterparties (CCPs). The introduction of the Basel III leverage rule constitutes a shock to market makers’ balance sheets and...
Persistent link: https://www.econbiz.de/10012798918
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CDS central counterparty clearing default measures : road to recovery or invitation to predation?
Tywoniuk, Magdalena - 2020
Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …
Persistent link: https://www.econbiz.de/10012419635
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CDS central counterparty clearing liquidation : road to recovery or invitation to predation?
Tywoniuk, Magdalena - 2017
Recent regulation mandating the clearing of credit default swaps (CDS) by a Central Clearing Counterparties (CCP), has …
Persistent link: https://www.econbiz.de/10011870658