: (1) The probability of a liquidity crisis leading to a binding investment-finance constraint falls with a strong … investment fall by more in countries with poor creditor protection. -- liquidity crisis ; creditor protection ; stock volatility …

proxy for the “flight-to-liquidity” and its related liquidity premium. Moreover, large losses erased the capital used to …

: the probability of a liquidity crisis leading to a binding investment-finance constraint falls with a strong protection of …

This research examines whether stock liquidity affects the crash risk of stock price for companies listed on the …) and the Hanoi Stock Exchange (HNX) from 2010 to 2022, we find that stock liquidity has a negative impact on stock price … crash risk. Our findings are consistent with governance theory, which considers stock liquidity as a governance mechanism to …

We find that stock liquidity increases stock price crash risk. To identify the causal effect, we use the decimalization … of stock trading as an exogenous shock to liquidity. This effect is increasing in a firm’s ownership by transient … accompanied by greater selling by transient investors, but not blockholders. Our results suggest that liquidity induces managers …

turmoil. To achieve this, we examine the liquidity and crash risk of stocks that are likely held by Robinhood traders (i …. During the COVID-19 pandemic, we find that stocks likely held by retail investors have 17 percent higher liquidity and at …