costs. We find that failures to deliver are associated with greater liquidity, especially for IPOs likely to receive … underwriter price support. However, contrary to prior research that finds that short selling is associated with greater liquidity …, we find that short selling is negatively correlated with liquidity for IPO stocks with strong investor demand …

of algorithmic trading on stock market liquidity and commonality in liquidity under different market conditions on the … Tokyo Stock Exchange. After controlling for endogeneity, we find algorithmic trading increases stock liquidity by narrowing … spreads and increasing market depth. Furthermore, algorithmic trading increases commonality in liquidity at both high and low …

We examine the microstructure of liquidity provision in the COVID-19 corporate bond liquidity crisis. During the two …-primary dealers, shifted from buying to selling, causing dealers' inventories to plummet. Liquidity provisions in electronic customer …-to-customer trading increased, though at prohibitively high costs. By improving dealer funding conditions and providing a liquidity …

of algorithmic trading on stock market liquidity and commonality in liquidity under different market conditions on the … Tokyo Stock Exchange. After controlling for endogeneity, we find algorithmic trading increases stock liquidity by narrowing … spreads and increasing market depth. Furthermore, algorithmic trading increases commonality in liquidity at both high and low …

in equilibrium such that observed spreads can appear invariant to expected liquidity …

We find some support for theories predicting that the presence of informed investors adversely affects liquidity: When … arrangers retain a share in the loan this impacts negatively liquidity. We find strong evidence that investor diversity is … beneficial to liquidity: Loans with larger syndicates; syndicates with higher investor turnover, more investor types, and lower …

the post-crisis regulations—the re-distribution of liquidity among assets with different risk weights assigned to them …

We argue that institutional brokerage networks facilitate liquidity provision and mitigate price impact of large non … primarily liquidity-driven. The centrality premium is strengthened by brokers' incentives to generate greater revenues and their …