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Alternative asset classes have varying degrees of tradability and structural liquidity. This article outlines …
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-till-sale and correlation in the rates of return over time. More importantly, since the liquidity of a market cannot be an issue if … an investor never needs to liquidate an asset, we focus on how the liquidity of a market interacts with an individual … characteristics of liquidity shocks and on the interaction between time and behavior. We show that borrowing to pay for a liquidity …
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liquidity by quickly turning stocks into cash. We propose a trading model in which these two roles are endogenously related …: more intensive use of stocks for liquidity affects both the information and the noise about fundamentals contained in … banking system has trouble providing liquidity. We incorporate this module into a dynamic general equilibrium model to study …
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Institutional ownership affects the sensitivity of stock returns to changes in market liquidity (liquidity risk …). Overall, institutional ownership lowers the liquidity risk of stocks. However, different types of institutions affect … liquidity risk in opposite ways. Stocks held by hedge funds, especially levered hedge funds, as marginal investors are more …
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This paper examines the impact of foreign institutional ownership on stock liquidity in a sample of 950 firm … used to examine relationships between foreign institutional ownership and liquidity measures. The two-stage least squares … investors has a negative impact on stock liquidity. The results are still robust even after controlling for endogeneity. The …
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