The Library
Local business cycles and local liquidity
Tools
Bernile, Gennaro, Korniotis, George, Kumar, Alok and Wang, Qin (2015) Local business cycles and local liquidity. Journal of Financial and Quantitative Analysis, 50 (5). pp. 987-1010. doi:10.1017/S0022109015000447 ISSN 0022-1090.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: http://dx.doi.org/10.1017/S0022109015000447
Abstract
This study examines whether state-level economic conditions affect the liquidity of local firms. We find that liquidity levels of local stocks are higher (lower) when the local economy has performed well (poorly). This relation is stronger when local financing constraints are more binding, the local information environment is more opaque, and local institutional ownership levels and trading intensity are higher. Overall the evidence supports the notion that the geographical segmentation of U.S. capital markets generates predictable patterns in local liquidity.
Item Type: | Journal Article | ||||
---|---|---|---|---|---|
Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
Journal or Publication Title: | Journal of Financial and Quantitative Analysis | ||||
Publisher: | Cambridge University Press | ||||
ISSN: | 0022-1090 | ||||
Official Date: | 2015 | ||||
Dates: |
|
||||
Volume: | 50 | ||||
Number: | 5 | ||||
Page Range: | pp. 987-1010 | ||||
DOI: | 10.1017/S0022109015000447 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |