emergency liquidity and lending we introduce an instrumental variable, responsible for available emergency liquidity, into the … account for emergency liquidity (ELA) presence. We showed that given the limited amount of relevant historical data, ignoring …

Since the outset of the recent financial crisis, liquidity problems have been cited as the cause behind the … role for bankruptcy as a provider of liquidity. The Creditors' Bargain theory argues that bankruptcy law should be limited …-in-possession financing, sales free and clear of liens, and coerced loans can be seen as liquidity-providing rules that target either debt …

liquidity of the stock. On the whole, after controlling for the firm's payout policy, the results suggest that a stock split is …

: i) announcements and actions related to extension of central bank liquidity and ii) secondary market purchases. We find …, sovereign debt purchases are found to instantaneously lower and flatten the curve, while liquidity related actions steepen the …

firms need cash in their production process and where financial shocks are made of both credit and liquidity shocks. We show … that external liquidity shocks generate a negative comovement between the cash ratio and employment. We analyze the dynamic …

The crisis of 2007-2009 has shown that financial market turbulence can lead to huge funding liquidity problems for … liquidity management are modelled in a panel Vector Autoregressive (p-VAR) framework. Orthogonalized impulse responses reveal … that banks respond to a negative funding liquidity shock in a number of ways. First, banks reduce lending, especially …

risk. A positive, significant and robust effect of liquidity on capital was identified. Both regulatory and equity capital …