liquidity. Our analysis of a panel of firm-level ownership data indicates that Japanese stocks that are held more by foreign …

This paper investigates the effect of investor protection on the value impact of stock liquidity. Using a sample of … the value impact of stock liquidity. This association is robust to various endogeneity tests including a difference … increases the value impact of liquidity by reducing managerial entrenchment, encouraging informed trading, and enhancing pay …

We analyze the impact of share repurchases on liquidity based on a new comprehensive data set of realized share … that repurchases unequivocally improve liquidity and suggest that endogenous controls have confounded results in earlier … studies. Liquidity also influences how firms execute repurchase programs. Repurchases provide liquidity when other investors …

We examine the influence of investor conferences on firms' stock liquidity. We find that firms participating in … conferences experience a 1.4% to 2.8% increase in stock liquidity compared to non-conference firms. Consistent with investor … conferences improving firm visibility, the increase in liquidity is larger for firms with low pre-conference visibility and varies …