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How J. P. Morgan picked the winners and losers in the Panic of 1907 : an exploration of the individual over the institution as lender of last resort
Moen, Jon R.; Rodgers, Mary Tone - In: Essays in economic & business history : the journal of … 40 (2022), pp. 156-187
institutions during the resolution of a financial crisis. First, we examine how Morgan coordinated emergency liquidity infusions … applicants for liquidity had participated in earlier bond underwriting syndicates with Morgan. The single denial of aid was to an … or liquidity infusions to Morgan-backed issuers than to issuers backed by other bankers. These findings provide support …
Persistent link: https://www.econbiz.de/10013431103
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Are corporate bond defaults contagious across sectors?
Ellis, Colin - In: International Journal of Financial Studies : open … 8 (2020) 1/1, pp. 1-17
Corporate bond defaults in different sectors often increase suddenly at roughly similar times, although some sectors see default rates jump earlier than others. This could reflect contagion among sectors-specifically, defaults in one sector leading to credit stresses in other sectors of the...
Persistent link: https://www.econbiz.de/10012168967
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Do private firms benefit from trading in the private securities market?
Loveland, Robert; Fricke, Eric; Goktan, Sinan - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 2, pp. 1-30
enables liquidity provision to firm employees. Controlling for endogeneity, we find no evidence that a pre-IPO listing on … SharesPost-listed IPO companies sell less shares during the IPO. These findings suggest that liquidity provision via the …
Persistent link: https://www.econbiz.de/10011991364
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Correlated information consumption and comovement in the stock market
Tan, Selin Duz - In: Borsa Istanbul Review 22 (2022) 4, pp. 812-827
significant comovement in returns and liquidity of stocks within the resultant clusters. This comovement is linked but not …
Persistent link: https://www.econbiz.de/10013334839
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How fears index and liquidity affect returns of ivol puzzle before and during the Covid-19 pandemic
Khoa Dang Duong; Man Minh Tran; Diep Van Nguyen; Hoa … - In: Cogent economics & finance 10 (2022) 1, pp. 1-17
This study examines the impacts of investor sentiment and liquidity on the idiosyncratic volatility (IVOL) anomaly … in Vietnam after controlling for FEARS sentiment index and liquidity proxies. Our findings document the persistence of … contribute new evidence of how the FEARS index and liquidity help explain the IVOL puzzle before and during the pandemic. Our …
Persistent link: https://www.econbiz.de/10013373164
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Paper profits from value, size and momentum : Evidence from the Polish market
Zaremba, Adam; Konieczka, Przemysław - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 3, pp. 58-69
factor premiums are present after accounting for liquidity constraints. Fourth, we check whether the factor premiums are …, but they disappear after accounting for transaction costs and liquidity. …
Persistent link: https://www.econbiz.de/10011455379
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Break-even maturity as a guide to financial distress
Ellis, Colin - In: Contemporary economics 8 (2014) 4, pp. 387-396
During the recent crisis, lags in the transmission mechanism of economic shocks, together with monetary and fiscal policy, made it difficult to assess the evolving dynamics of creditworthiness. As such, developments in financial markets became a key guide for investors and policymakers in...
Persistent link: https://www.econbiz.de/10010520881
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Impact of a company's dividend policy on the liquidity of shares listed on the Warsaw stock exchange
Gniadkowska-Szymańska, Agata - In: E-Finanse : finansowy kwartalnik internetowy 13 (2017) 3, pp. 24-32
This study investigates the informational effect of stock liquidity on dividend payouts. Using a sam- ple of Polish … robust to the use of alternative measures of liquidity, and holds after we control for endogeneity concerns. In accord with … my hypothesis that stock liquidity provides information and increases insiders’ incentive to pay out dividends, I do not …
Persistent link: https://www.econbiz.de/10011865505
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Predictability in securities price formation: differences between developed and emerging markets
Camilleri, Silvio John; Vassallo, Semiramis; Bai, Ye - In: Journal of capital markets studies 4 (2020) 2, pp. 146-166
Purpose This paper examines whether there are differences in the nature of the price discovery process across established versus emerging stock markets using a twenty-country sample. Design/methodology/approach The authors analyse security returns for traces of predictability or non-randomness...
Persistent link: https://www.econbiz.de/10012395371
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A comparison of bid-ask spread proxies and determinants of bond bid-ask spread
Su, Emre; Tokmakcioglu, Kaya - In: Borsa Istanbul Review 21 (2021) 3, pp. 227-238
points out that bond characteristics have a significant relation with bond liquidity. Bonds with shorter time to maturity or …
Persistent link: https://www.econbiz.de/10012816797