This paper provides original evidence on the relation between herd behavior and equity market liquidity, an issue that … initially we find no evidence of herding. When, however, we condition on the daily liquidity of stocks we find significant … evidence of herd behavior for days with high or medium stock liquidity, for all countries and the majority of the sub …

systematic liquidity risk increased by 34%. We find that the trading of a firm's equity by institutional investors increased the … firms' quoted spreads, and led to a higher liquidity commonality during the crisis. Institutional sell-side herding …

This study examines the liquidity characteristics of market anomalies and how liquidity affects institutional trading … on those anomalies. We find that long-short portfolios based on market anomalies have pervasive liquidity exposures. For … long-horizon anomalies, the long legs of the portfolios are less liquid and suffer from deteriorating liquidity relative to …

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 …

Yes. Chung, Lee, and Rösch (2020) show that liquidity for large orders improves for the treated firms with larger tick … concentrated among the firms with lower liquidity for large orders ex-ante and mainly comes from dedicated institutional investors …

This study examines the dynamic liquidity provision process by institutional and individual traders in the Taiwan index … find that trader type affects liquidity provision in a number of interesting ways. First, although institutional traders …

This paper studies the effect of stock liquidity on blockholder governance. Conditional upon acquiring a stake …, liquidity reduces the likelihood that a blockholder governs through voice (intervention) – as shown by the greater propensity to … announcement returns and improvements in operating performance, especially in liquid firms. Moreover, liquidity increases the …

's liquidity effects. Our findings show that stocks increased by short-term institutions become more liquid while stocks increased … firm's recent fundamentals than long-term institutions and changes in liquidity effects resulting from holding changes of … which a firm's fundamentals can influence its stock liquidity …

liquidity to satisfy these liabilities?”; and “What is my optimal allocation to private assets and the composition of the … private and public portfolios?”.“Liquidity” for investors is their degree of confidence that their portfolios will satisfy … portfolios, are interrelated. In addition, the model shows that increasing a portfolio’s liquidity – i.e., increasing the …