This study investigates equity liquidity variation with a funding constraint across 38 countries and examines whether the effectiveness of a country’s legal institutions is systematically related to cross-country differences in fragile equity liquidity. Our results show that firms from...

Research Question/Issue: Using the data of the 20 largest financial institutions from G8 countries, we explore whether the performance is higher for financial institutions with more independent directors on different committees during the 2007–08 financial crisis. We also examine the...