and financial corporations' desire to hoard liquidity to fulfill future cash needs. Our corporate finance a determinants … associated liquidity permia. It then derives some implications of corporate liquidity demand for the equity premium puzzle, for … implications of the theory. It shows that government may be able to boost aggregate liquidity and enhance economic efficiency by …

viewed as increasing debt capacity, other things being equal. This paper focusses on the dark side of liquidity: greater … liquidity reduces the ability of borrowers to commit to a specific course of action. It examines the effects of differences in … asset liquidity on debt capacity. It suggests an alternative theory of financial intermediation and disintermediation …

This paper analyzes the role of liquidity constraints in the formation of new entrepreneurial enterprises. The basic … conditional amounts of depreciable assets, ceteris paribus. If so, liquidity constraints are likely to be present. To be … the amount of capital employed. These findings are consistent with the presence of liquidity constraints …