negative correlation between volatility and underlying returns. Moreover, we also allow for liquidity frictions to recognize … performance and a better hedging ability, although the model with liquidity costs seems to display better in-sample behavior …

explains why liquidity cannot easily be apprehended through a single statistics, and asks whether liquidity should be regulated … containment. Finally, the paper takes a macroeconomic perspective, discusses shortages of aggregate liquidity and analyses how … market value accounting and capital adequacy should react to asset prices. It concludes with a topical form of liquidity …

I explain the key failure mechanics of large dealer banks, and some policy implications. This is not a review of the … importance of large dealer banks are nevertheless obvious and important motivations. …

This paper shows that private information may be crucial in explaining the relationship between liquidity, investment … and economic fluctuations. First, it defines liquidity in a way that is clearly connected to investment and output. Second … identifies a theoretically based, empirically usable, and macroeconomic relevant measure of liquidity of the economy: the cross …

We find that U.S. corporations' demand for liquidity is sensitive to two important factors: uncertainty facing the firm … important role in managing liquidity risks. Policy recommendations may not only be limited to changes in financial policy but …

This study is an analysis of the secondary market liquidity on equity markets around the world. The role of operational … design of stock exchanges in enhancing liquidity is assessed. The market structure within which exchanges operate is also … shown to affect the optimal operational design and liquidity. Narrower tick sizes, designated market makers, centralized …

prices and intrinsic values of companies that need to raise external capital because of insufficient internal liquidity. The …

addition, our analysis shows that large shareholders reduce the liquidity of the firm’s stock. …

affected by the worsening perception of the risk, of financing difficulties, doubling the risk of liquidity with the solvency …