alternative specification for growth, this study provides evidence that liquidity constraints impact firm growth, even when …

alternative specification for growth, this study provides evidence that liquidity constraints impact firm growth, even when …

manage liquidity to meet investor redemptions? We show that, during tranquil market conditions, these funds tend to reduce … their liquid and illiquid asset proportionally, thereby preserving the liquidity of their portfolios. This fund …-level dynamic management of liquidity appears to impact the broad financial market: flows-induced trades in corporate bonds by these …

This paper derives an equilibrium asset pricing model with liquidity risk. Liquidity risk is modeled as a stochastic …, which enables the derivation of the risk-return relation for the stock's expected return including liquidity risk. In … contrast to the traditional models without liquidity risk, there is an additional systematic liquidity risk factor which is …