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Financial constraints, stock liquidity, and stock returns
Li, Xiafei; Luo, Di - In: Journal of international financial markets, … 63 (2019), pp. 1-18
Persistent link: https://www.econbiz.de/10012263328
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Essays on liquidity under-supply and emerging market bond closures
Fostel, Ana - 2005
Persistent link: https://www.econbiz.de/10003905317
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Financial frictions and the reaction of stock prices to monetary policy shocks
Ozdagli, Ali - 2014 - This version: July 29, 2014
This paper reveals and tests a new theoretical implication of the credit channel of monetary policy: as financial frictions (monitoring or auditing costs) increase, the reaction of stock prices to monetary policy shocks decreases. Correspondingly, towards the end of the Enron accounting scandal,...
Persistent link: https://www.econbiz.de/10010395119
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Liquidating Illiquid Collateral
Oehmke, Martin - 2015
Defaults of financial institutions can cause large, disorderly liquidations of repo collateral. This paper analyzes the dynamics of such liquidations. The model shows that (i) the equilibrium price of the collateral asset can overshoot; (ii) the creditor structure in repo lending involves a...
Persistent link: https://www.econbiz.de/10013036180
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Financial Distress, Short Sale Constraints, and Mispricing
Kim, Dongcheol - 2018
This paper specifically examine how the extent of the distress puzzle differs according to the degree of mispricing and short sale constraints. We find that the distress puzzle observed for overpriced stocks, not for underpriced stocks, becomes insignificant after adjustment for short sale...
Persistent link: https://www.econbiz.de/10012908901
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Financial Distress, Short Sale Constraints, and Mispricing
Kim, Dongcheol - 2019
This paper specifically examine how the extent of the distress puzzle differs according to the degree of mispricing and short sale constraints. We find that the distress puzzle observed for overpriced stocks, not for underpriced stocks, becomes insignificant after adjustment for short sale...
Persistent link: https://www.econbiz.de/10012895030
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Liquid Assets, Illiquid Assets and Sunspots
Lim, William W. - 2013
markets, there is a role for government intervention and for government-supplied liquidity and for its active management …
Persistent link: https://www.econbiz.de/10013086649
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Flighty Liquidity
Boyarchenko, Nina - 2019
We study how the risks to future liquidity flow across corporate bond, Treasury, and stock markets. We document … distribution “flight-to-safety” effects: a deterioration in the liquidity of high-yield corporate bonds forecasts an increase in … the average liquidity of Treasury securities and a decrease in uncertainty about the liquidity of investment …
Persistent link: https://www.econbiz.de/10012897700
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Debt, equity and the equity price puzzle
Finocchiaro, Daria; Mendicino, Caterina - 2015
We show that in a model with equity and debt financing, the specfication of the borrowing constraint is crucial to generate empirically plausible responses of macro variables and asset prices to financial shocks. The interaction between financial frictions and labor demand, as in Jermann and...
Persistent link: https://www.econbiz.de/10011410405
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The Impact of Financial Constraints and Liquidity on the Stock Returns of Companies Listed in Tehran Stock Exchange
Heidari Gandoman, Shaho - 2020
The purpose of this study was to investigate the The Impact of Financial Limitation and Liquidity on the Stock Returns … of Companies Listed in Tehran Stock Exchange. Financial constraints and stock liquidity as independent variable and stock … companies admitted to the Tehran Stock Exchange due to the company's return on assets and also the liquidity of the stock …
Persistent link: https://www.econbiz.de/10012846392