organized around two main pillars - a tiered liquidity management framework and an overall risk budget. Together they provide a …

We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via … future systematic stock liquidity risk. Controlling for endogeneity, we show that information disclosure quality is an … important channel through which CEO options influence stock liquidity risk. Results are robust to various controls for …

measure as a measure of market risk. The lack of a liquidity parameter in methodologies used to compute VaR significantly … liquidity risk on market risk assessment, which is obtained by using VaR. The most frequently used technique for VaR estimation … results of this study indicate that the application of a liquidity constraint in the VaR model provides more accurate …

-financial crisis. Consistent with theoretical work, funds resort to CDS (especially selling) when they face unpredictable liquidity …