, we find that stock price informativeness acts as a substitute for banking development and stock market liquidity in …

We study the liquidity exposures of value and growth stocks over business cycles. In worst times, value stocks have … higher liquidity betas than in best times, while the opposite holds for growth stocks. Small value stocks have higher … liquidity exposures than small growth stocks in worst times, while small growth stocks have higher liquidity exposures than …

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging … evidence of an historical increase in market liquidity since the early 1990s, in part as a result of advances in international … financial integration, but markets have been increasingly exposed to global systemic liquidity shocks. Second, liquidity …

This study investigates the country-level determinants of liquidity synchronization and degrees of liquidity … synchronization during economic growth volatility. As a non-diversifiable risk factor, liquidity co-movement shock spreads market … environments distinct from those of firms analyzed in the previous literature. Comprehensive analyses of liquidity synchronicity in …