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Liquidity and solvency of a company and the rate of return : an analysis of the Warsaw Stock Exchange
Zalewska, Justyna; Nehrebecka, Natalia - In: Central European economic journal 6 (2019) 53, pp. 199-220
of the capital asset pricing model (CAPM) model and analysed portfolios based on three liquidity ratios and four solvency …The purpose of the article is to analyse the impact of various financial ratios used to evaluate a company’s liquidity … developing countries, the relationship between liquidity and solvency on the one hand and the return on equity on the other is …
Persistent link: https://www.econbiz.de/10012303197
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Investors’ valuation for asset liquidity and the corporate-treasury yield spread
Niestroj, Benjamin - In: International journal of economics and finance 6 (2014) 10, pp. 1-16
Persistent link: https://www.econbiz.de/10010421663
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Real Assets, Liquidation Value and Choice of Financing
Liu, Peng - 2010
We use real estate firms to examine how asset liquidation values influence a firm's financing choices, since the productivity and quality of each asset is observable and potential measures of an asset's liquidation value are easier to ascertain ex-ante. We show that compared to firms that issue...
Persistent link: https://www.econbiz.de/10013135318
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Illiquid Asset Investing
Ang, Andrew - 2013
After taking into account biases induced by infrequent trading and selection, it is unlikely that illiquid asset classes have higher risk-adjusted returns than traditional liquid stock and bond markets. On the other hand, there are significant illiquidity premiums within asset classes. Portfolio...
Persistent link: https://www.econbiz.de/10013088632
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Betas and Liquidity : Differences in Systematic Price Risk Due to Asymmetric Asset Liquidity and Correlated Funding Shocks
Umlauft, Roland - 2013
This research presents evidence for the existence of differences in asset beta risk in the liquidity cross-section of … assets due to correlated trading. It is argued that due to differences in liquidity or cost, most trading activity is …
Persistent link: https://www.econbiz.de/10013090386
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Real Assets, Liquidation Value and Choice of Financing
Liu, Crocker Herbert - 2015
We use real estate investment trusts to examine how asset liquidation values influence a firm's financing choices, since the productivity and quality of each asset is observable and potential measures of an asset's liquidation value are easier to ascertain ex-ante. We show that compared to firms...
Persistent link: https://www.econbiz.de/10013026049
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Illiquidity Premium, Transaction Costs, and Risks of Illiquid Assets
Meng, Ben - 2015
Liquidity has long been a great interest to investment professionals as well as academic researchers. The estimation of …
Persistent link: https://www.econbiz.de/10013026578
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Firms' asset holdings and inflation expectations
Kumar, Saten - In: Journal of economic behavior & organization : JEBO 170 (2020), pp. 193-205
Persistent link: https://www.econbiz.de/10012285740
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Firms' asset holdings and inflation expectations
Kumar, Saten - 2020
Persistent link: https://www.econbiz.de/10012533216
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Asset Pricing Anomalies – Liquidity Risk Spreaders or Liquidity Risk Hedgers?
Virk, Nader - 2020
A unified explanation of risk and mispricing in stock returns underpinned by their aggregate liquidity risk is … presented. We argue alternating liquidity exposures depict two distinct investment preferences-hedging against aggregate … liquidity risk or betting on it. A three-factor model capturing these return variations is developed. Results show that our …
Persistent link: https://www.econbiz.de/10012847658