-building. We focus on the IPO initial underpricing, long-run performance and after market liquidity problems. 1. We propose that …

We document the negative effect of stock liquidity on default risk for a sample of 46 countries. We further find that … shock that increases liquidity. The effect of liquidity on default risk is more pronounced in countries with poorer investor … impact of stock liquidity on default risk in international markets …

Exchanges and shows that competition among exchange platforms does not have a negative effect on the level of liquidity of …

This paper investigates the effect of investor protection on the value impact of stock liquidity. Using a sample of … the value impact of stock liquidity. This association is robust to various endogeneity tests including a difference … increases the value impact of liquidity by reducing managerial entrenchment, encouraging informed trading, and enhancing pay …

announcement date. These results hold even after controlling for agency, asymmetric information, and liquidity effects, and suggest …

liquidity risk, only middle-priced losers maintain their positive returns. Our results reveal that low-priced stocks are not …

of algorithmic trading on stock market liquidity and commonality in liquidity under different market conditions on the … Tokyo Stock Exchange. After controlling for endogeneity, we find algorithmic trading increases stock liquidity by narrowing … spreads and increasing market depth. Furthermore, algorithmic trading increases commonality in liquidity at both high and low …

jumps is associated with public information releases, whereas majority of them is motivated by liquidity shocks observed in … absorb new and big orders. Liquidity shocks in quoted spread, volume and number of trades are the key drivers causing the … occurrence of the jumps. Finally, the introduction of faster and more efficient trading system enhanced the impact of liquidity …