This paper examines market liquidity in the post-crisis era in light of concerns that regulatory changes might have … considering additional drivers of market liquidity. We document a stagnation of dealer balance sheets after the financial crisis … liquidity. …

This paper models an unexplored source of liquidity risk faced by large broker-dealers: collateral runs. By setting … dealer's liquidity position and compromising her solvency. Collateral runs are markedly different than traditional wholesale …

This paper models an unexplored source of liquidity risk faced by large broker-dealers: collateral runs. By setting … dealer's liquidity position and compromising her solvency. Collateral runs are markedly different than traditional wholesale …

leverage and product-market competition as predictors of financial distress hazard; and lack of attention to frailty as a … a managerial effort problem, mitigated by leverage and product-market competition as substitute disciplining devices … effect of leverage on financial distress hazard is inverted-U-shaped; (ii) the effect of the competition is U-shaped; and …