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Yakov Amihud

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Amihud, Yakov, 2002. "Illiquidity and stock returns: cross-section and time-series effects," Journal of Financial Markets, Elsevier, vol. 5(1), pages 31-56, January.

    Mentioned in:

    1. Corporate Bond Market Liquidity Redux: More Price-Based Evidence
      by Blog Author in Liberty Street Economics on 2016-02-09 18:00:00
    2. Corporate Bond Market Liquidity Redux: More Price-Based Evidence
      by Guest Author in The Big Picture on 2016-02-12 16:00:08
    3. Corporate Bond Market Liquidity Redux: More Price-Based Evidence
      by Guest Author in The Big Picture on 2016-02-11 16:00:41
    4. Liquidity everywhere
      by JP Koning in Moneyness on 2014-03-31 00:39:00

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Amihud, Yakov & Stoyanov, Stoyan, 2017. "Do staggered boards harm shareholders?," Journal of Financial Economics, Elsevier, vol. 123(2), pages 432-439.

    Mentioned in:

    1. Do staggered boards harm shareholders? (JFE 2017) in ReplicationWiki ()
  2. Amihud, Yakov, 2002. "Illiquidity and stock returns: cross-section and time-series effects," Journal of Financial Markets, Elsevier, vol. 5(1), pages 31-56, January.

    Mentioned in:

    1. Illiquidity and stock returns: cross-section and time-series effects (J Fin Markets 2002) in ReplicationWiki ()

Working papers

  1. Amihud, Yakov & Schmid, Markus & Davidoff Solomon, Steven, 2017. "Settling the Staggered Board Debate," Working Papers on Finance 1713, University of St. Gallen, School of Finance.

    Cited by:

    1. Gogineni, Sridhar & Upadhyay, Arun, 2020. "Target governance provisions and acquisition types," Journal of Business Research, Elsevier, vol. 110(C), pages 160-172.

  2. Viral V. Acharya & Yakov Amihud & Sreedhar T. Bharath, 2010. "Liquidity Risk of Corporate Bond Returns: A Conditional Approach," NBER Working Papers 16394, National Bureau of Economic Research, Inc.

    Cited by:

    1. Maul, D. & Schiereck, D., 2017. "The bond event study methodology since 1974," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 80723, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Boermans, Martijn Adriaan & Frost, Jon & Steins Bisschop, Sophie, 2016. "European bond markets: Do illiquidity and concentration aggravate price shocks?," Economics Letters, Elsevier, vol. 141(C), pages 143-146.
    3. Giovanni Petrella & Andrea Resti, 2016. "An empirical analysis of Eurozone government bonds liquidity: Determinants, predictability and implications for the new bank prudential rules," BAFFI CAREFIN Working Papers 1645, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Rogers Ondiba Ochenge & Rose Ngugi & Peter Muriu & David McMillan, 2020. "Foreign equity flows and stock market liquidity in Kenya," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1781503-178, January.
    5. Mr. Fei Han & Mindaugas Leika, 2019. "Integrating Solvency and Liquidity Stress Tests: The Use of Markov Regime-Switching Models," IMF Working Papers 2019/250, International Monetary Fund.
    6. Héla Ben Soltane & Kamel Naoui, 2021. "Time‐varying responses of stock returns to market illiquidity: Stress scenario with regime‐switching framework," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1611-1622, January.
    7. Bazgour, Tarik & Heuchenne, Cédric & Hübner, Georges & Sougné, Danielle, 2021. "How do volatility regimes affect the pricing of quality and liquidity in the stock market?," LIDAM Reprints ISBA 2021038, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
    8. Jelic, Ranko & Zeng, Yiming & Karouzakis, Nikolaos, 2023. "Foreign-law premium for European high-yield corporate bonds," Finance Research Letters, Elsevier, vol. 52(C).
    9. Ruenzi, Stefan & Ungeheuer, Michael & Weigert, Florian, 2020. "Joint extreme events in equity returns and liquidity and their cross-sectional pricing implications," CFR Working Papers 20-01, University of Cologne, Centre for Financial Research (CFR).
    10. Cioroianu, Iulia & Corbet, Shaen & Larkin, Charles, 2021. "The differential impact of corporate blockchain-development as conditioned by sentiment and financial desperation," Journal of Corporate Finance, Elsevier, vol. 66(C).
    11. Maxim Bichuch & Agostino Capponi & Stephan Sturm, 2020. "Robust XVA," Mathematical Finance, Wiley Blackwell, vol. 30(3), pages 738-781, July.
    12. Kinateder, Harald & Papavassiliou, Vassilios G., 2019. "Sovereign bond return prediction with realized higher moments," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 53-73.
    13. Kim, Gi H. & Li, Haitao & Zhang, Weina, 2016. "CDS-bond basis and bond return predictability," Journal of Empirical Finance, Elsevier, vol. 38(PA), pages 307-337.
    14. Sakemoto, Ryuta, 2019. "Currency carry trades and the conditional factor model," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 198-208.
    15. Petrella, Giovanni & Resti, Andrea, 2017. "What drives the liquidity of sovereign bonds when markets are under stress? An assessment of the new Basel 3 rules on bank liquid assets," Journal of Financial Stability, Elsevier, vol. 33(C), pages 297-310.
    16. Elroi Hadad & Haim Kedar-Levy, 2022. "The Impact of Retail Investors Sentiment on Conditional Volatility of Stocks and Bonds," Papers 2208.01538, arXiv.org.
    17. Hou, Yuting & Jin, Xiu, 2024. "Downside liquidity risk premium: From the perspective of higher moment," The North American Journal of Economics and Finance, Elsevier, vol. 69(PA).
    18. Patrick Augustin & Jan Schnitzler, 2021. "Disentangling types of liquidity and testing limits‐to‐arbitrage theories in the CDS–bond basis," European Financial Management, European Financial Management Association, vol. 27(1), pages 120-146, January.
    19. Hammami, Yacine & Bahri, Maha, 2016. "On the determinants of expected corporate bond returns in Tunisia," Research in International Business and Finance, Elsevier, vol. 38(C), pages 224-235.
    20. Welfens Paul J.J. & Baier Fabian & Kadiric Samir & Korus Arthur & Xiong Tian, 2019. "EU28 Capital Market Perspectives of a Hard BREXIT: Theory, Empirical Findings and Policy Options," The Economists' Voice, De Gruyter, vol. 16(1), pages 1-16, December.
    21. Bethke, Sebastian & Kempf, Alexander & Trapp, Monika, 2014. "Investor sentiment, flight-to-quality, and corporate bond comovement," CFR Working Papers 13-06 [rev.], University of Cologne, Centre for Financial Research (CFR).
    22. Palwishah, Rana & Kashif, Muhammad & Rehman, Mobeen Ur & Al-Faryan, Mamdouh Abdulaziz Saleh, 2024. "Asymmetric liquidity risk and currency returns before and during COVID-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 91(C).
    23. Dick-Nielsen, Jens & Feldhütter, Peter & Lando, David, 2012. "Corporate bond liquidity before and after the onset of the subprime crisis," Journal of Financial Economics, Elsevier, vol. 103(3), pages 471-492.
    24. Boudt, Kris & Paulus, Ellen C.S. & Rosenthal, Dale W.R., 2017. "Funding liquidity, market liquidity and TED spread: A two-regime model," Journal of Empirical Finance, Elsevier, vol. 43(C), pages 143-158.
    25. Liu, Clark & Wang, Shujing & Wei, K.C. John & Zhong, Ninghua, 2019. "The demand effect of yield-chasing retail investors: Evidence from the Chinese enterprise bond market," Journal of Empirical Finance, Elsevier, vol. 50(C), pages 57-77.
    26. Soosung Hwang & Youngha Cho & Jinho Shin, 2017. "Does illiquidity matter in residential properties?," Applied Economics, Taylor & Francis Journals, vol. 49(1), pages 1-20, January.
    27. Wang, Junbo & Wu, Chunchi, 2015. "Liquidity, credit quality, and the relation between volatility and trading activity: Evidence from the corporate bond market," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 183-203.
    28. Xiaoping Min & Min Ji, 2022. "The Liquidity Premium in China’s Corporate Bond Market: A Stochastic Liquidity Discount Approach," Risks, MDPI, vol. 10(7), pages 1-16, June.
    29. Díaz, Antonio & Escribano, Ana, 2017. "Liquidity measures throughout the lifetime of the U.S. Treasury bond," Journal of Financial Markets, Elsevier, vol. 33(C), pages 42-74.
    30. International Monetary Fund, 2017. "Japan: Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing the Financial Sector," IMF Staff Country Reports 2017/285, International Monetary Fund.
    31. Martin Hoesli & Anjeza Kadilli & Kustrim Reka, 2017. "Commonality in Liquidity and Real Estate Securities," The Journal of Real Estate Finance and Economics, Springer, vol. 55(1), pages 65-105, July.
    32. Kamesh Korangi & Christophe Mues & Cristi'an Bravo, 2021. "A transformer-based model for default prediction in mid-cap corporate markets," Papers 2111.09902, arXiv.org, revised Apr 2023.
    33. Mr. Giovanni Dell'Ariccia & Caio Ferreira & Nigel Jenkinson & Mr. Luc Laeven & Alberto Martin & Ms. Camelia Minoiu & Alex Popov, 2018. "Managing the Sovereign-Bank Nexus," IMF Departmental Papers / Policy Papers 2018/016, International Monetary Fund.
    34. Cai, Fang & Han, Song & Li, Dan & Li, Yi, 2019. "Institutional herding and its price impact: Evidence from the corporate bond market," Journal of Financial Economics, Elsevier, vol. 131(1), pages 139-167.
    35. Anténor-Habazac, Cassandre & Dionne, Georges & Guesmi, Sahar, 2018. "Cyclical variations in liquidity risk of corporate bonds," Working Papers 18-3, HEC Montreal, Canada Research Chair in Risk Management.
    36. Javadi, Siamak & Mollagholamali, Mohsen, 2018. "Debt market illiquidity and correlated default risk," Finance Research Letters, Elsevier, vol. 26(C), pages 266-273.
    37. Fecht, Falko & Füss, Roland & Rindler, Philipp B., 2014. "Corporate Transparency and Bond Liquidity," Working Papers on Finance 1404, University of St. Gallen, School of Finance.
    38. Bai, Jennie & Bali, Turan G. & Wen, Quan, 2019. "Common risk factors in the cross-section of corporate bond returns," Journal of Financial Economics, Elsevier, vol. 131(3), pages 619-642.
    39. Gitit Gur Gershgoren & Elroi Hadad & Haim Kedar-Levy, 2020. "A Deep Market In Israeli Corporate Bonds: Macro And Microeconomic Analysis In Light Of The Accounting Standards," Israel Economic Review, Bank of Israel, vol. 18(1), pages 139-176.
    40. Zhang, Heming & Wang, Guanying, 2021. "Reversal effect and corporate bond pricing in China," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    41. Li, Yulin, 2021. "Investor sentiment and sovereign bonds," Journal of International Money and Finance, Elsevier, vol. 115(C).
    42. Fischer, Henning & Stolper, Oscar, 2019. "The nonlinear dynamics of corporate bond spreads: Regime-dependent effects of their determinants," Discussion Papers 08/2019, Deutsche Bundesbank.
    43. Su, Zhi & Lyu, Tongtong & Yin, Libo, 2022. "Are conditional illiquidity risks priced in China? A cross-sectional test," International Review of Financial Analysis, Elsevier, vol. 81(C).
    44. Yinghui Chen & Lunan Jiang, 2021. "Liquidity risk and corporate bond yield spread: Evidence from China," International Review of Finance, International Review of Finance Ltd., vol. 21(4), pages 1117-1151, December.
    45. Wei, Jason, 2018. "Behavioral biases in the corporate bond market," Journal of Empirical Finance, Elsevier, vol. 46(C), pages 34-55.
    46. Chengzhu Sun & Shujing Wang & Chu Zhang, 2021. "Corporate Payout Policy and Credit Risk: Evidence from Credit Default Swap Markets," Management Science, INFORMS, vol. 67(9), pages 5755-5775, September.
    47. Friewald, Nils & Nagler, Florian, 2018. "Over-the-Counter Market Frictions and Yield Spread Changes," CEPR Discussion Papers 13345, C.E.P.R. Discussion Papers.
    48. Friewald, Nils & Nagler, Florian, 2024. "Dealer inventory and the cross-section of corporate bond returns," Economics Letters, Elsevier, vol. 239(C).
    49. Yamani, Ehab, 2023. "Return–volume nexus in financial markets: A survey of research," Research in International Business and Finance, Elsevier, vol. 65(C).
    50. Maria Cristina Arcuri & Gino Gandolfi & Manou Monteux & Giovanni Verga, 2021. "What Factors Influence European Corporate Bond Spread?," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(4), pages 1-87, July.
    51. Yinghui Chen & Lunan Jiang, 2019. "Liquidity Risk and Corporate Bond Yield Spread: Evidence from China," CFDS Discussion Paper Series 2019/9, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    52. Díaz, Antonio & Escribano, Ana, 2022. "Liquidity dimensions in the U.S. corporate bond market," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1163-1179.
    53. Massimo Guidolin, 2011. "Markov Switching Models in Empirical Finance," Advances in Econometrics, in: Missing Data Methods: Time-Series Methods and Applications, pages 1-86, Emerald Group Publishing Limited.
    54. Bessler, Wolfgang & Kurmann, Philipp, 2014. "Bank risk factors and changing risk exposures: Capital market evidence before and during the financial crisis," Journal of Financial Stability, Elsevier, vol. 13(C), pages 151-166.
    55. Choi, Jaewon & Kim, Yongjun, 2018. "Anomalies and market (dis)integration," Journal of Monetary Economics, Elsevier, vol. 100(C), pages 16-34.
    56. Yakov Amihud & Haim Mendelson, 2015. "The Pricing of Illiquidity as a Characteristic and as Risk," Multinational Finance Journal, Multinational Finance Journal, vol. 19(3), pages 149-168, September.
    57. Chalamandaris, George & Pagratis, Spyros, 2019. "Limits to arbitrage and CDS–bond dynamics around the financial crisis," Journal of Empirical Finance, Elsevier, vol. 54(C), pages 213-235.
    58. Stephanie Heck, 2022. "Corporate bond yields and returns: a survey," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 36(2), pages 179-201, June.
    59. Malagon, Juliana & Moreno, David & Rodríguez, Rosa, 2018. "Idiosyncratic volatility, conditional liquidity and stock returns," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 118-132.
    60. Sirio Aramonte & Chiara Scotti & Ilknur Zer, 2019. "Measuring the Liquidity Profile of Mutual Funds," Finance and Economics Discussion Series 2019-055, Board of Governors of the Federal Reserve System (U.S.).
    61. Samir Kadiric & Arthur Korus, 2019. "The effects of Brexit on credit spreads: Evidence from UK and Eurozone corporate bond markets," International Economics and Economic Policy, Springer, vol. 16(1), pages 65-102, March.
    62. Anna Paulson & Richard Rosen, 2016. "The Life Insurance Industry and Systemic Risk: A Bond Market Perspective," Annual Review of Financial Economics, Annual Reviews, vol. 8(1), pages 155-174, October.
    63. Byrne, Joseph P. & Lorusso, Marco & Xu, Bing, 2019. "Oil prices, fundamentals and expectations," Energy Economics, Elsevier, vol. 79(C), pages 59-75.
    64. Nneji, Ogonna, 2015. "Liquidity shocks and stock bubbles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 35(C), pages 132-146.
    65. Bethke, Sebastian & Gehde-Trapp, Monika & Kempf, Alexander, 2015. "Investor sentiment, flight-to-quality, and corporate bond comovement," CFR Working Papers 13-06 [rev.3], University of Cologne, Centre for Financial Research (CFR).
    66. Xu, Yanyan & Huang, Dengshi & Ma, Feng & Qiao, Gaoxiu, 2019. "Liquidity and realized range-based volatility forecasting: Evidence from China," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 525(C), pages 1102-1113.
    67. Kavussanos, Manolis G. & Tsouknidis, Dimitris A., 2014. "The determinants of credit spreads changes in global shipping bonds," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 70(C), pages 55-75.
    68. Wu, Ying, 2019. "Asset pricing with extreme liquidity risk," Journal of Empirical Finance, Elsevier, vol. 54(C), pages 143-165.
    69. Kyriakos C. Neanidis & Christos S. Savva, 2015. "Is Loan Dollarization Contagious across Countries? Evidence from Transition Economies," Centre for Growth and Business Cycle Research Discussion Paper Series 200, Economics, The University of Manchester.
    70. Zhiguo He & Paymon Khorrami & Zhaogang Song, 2019. "Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress," NBER Working Papers 26494, National Bureau of Economic Research, Inc.
    71. Stefan Fiesel & Marliese Uhrig-Homburg, 2016. "Illiquidity Transmission in a Three-Country Framework: A Conditional Approach," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 17(3), pages 261-284, December.
    72. Arakelyan, Armen & Rubio, Gonzalo & Serrano, Pedro, 2015. "The reward for trading illiquid maturities in credit default swap markets," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 376-389.
    73. Prabhas Kumar Rath, 2023. "Nexus Between Indian Financial Markets and Macro-economic Shocks: A VAR Approach," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(1), pages 131-164, March.
    74. Grillini, Stefano & Ozkan, Aydin & Sharma, Abhijit & Al Janabi, Mazin A.M., 2019. "Pricing of time-varying illiquidity within the Eurozone: Evidence using a Markov switching liquidity-adjusted capital asset pricing model," International Review of Financial Analysis, Elsevier, vol. 64(C), pages 145-158.
    75. Amir Alizadeh & Konstantina Kappou & Dimitris Tsouknidis & Ilias Visvikis, 2014. "Liquidity Risk Premia in the International Shipping Derivatives Market," ICMA Centre Discussion Papers in Finance icma-dp2014-15, Henley Business School, University of Reading.
    76. Azizpour, S & Giesecke, K. & Schwenkler, G., 2018. "Exploring the sources of default clustering," Journal of Financial Economics, Elsevier, vol. 129(1), pages 154-183.
    77. Aboody, David & Hughes, John S. & Bugra Ozel, N., 2014. "Corporate bond returns and the financial crisis," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 42-53.
    78. Katarzyna Platt, 2020. "Corporate Bonds And Product Market Competition," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 615-647, August.
    79. Irresberger, Felix & Weiß, Gregor N.F. & Gabrysch, Janet & Gabrysch, Sandra, 2018. "Liquidity tail risk and credit default swap spreads," European Journal of Operational Research, Elsevier, vol. 269(3), pages 1137-1153.
    80. Song Han & Hao Zhou, 2011. "Effects of Liquidity on the Nondefault Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data," Working Papers 022011, Hong Kong Institute for Monetary Research.
    81. Goldstein, Michael A. & Namin, Elmira Shekari, 2023. "Corporate bond liquidity and yield spreads: A review," Research in International Business and Finance, Elsevier, vol. 65(C).
    82. Byrne, Joseph P & Lorusso, Marco & Xu, Bing, 2017. "Oil Prices and Informational Frictions: The Time-Varying Impact of Fundamentals and Expectations," MPRA Paper 80668, University Library of Munich, Germany.
    83. Markus Herrmann & Martin Hibbeln, 2023. "Trading and liquidity in the catastrophe bond market," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 90(2), pages 283-328, June.
    84. VDMV Lakshmi & Garima Sisodia & Anto Joseph & Aviral Kumar Tiwari, 2024. "The conditional impact of market conditions, volatility and liquidity shocks on the arbitrage opportunities during pre‐COVID and COVID periods," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3007-3022, July.
    85. Docherty, Paul & Easton, Steve, 2018. "State-varying illiquidity risk in sovereign bond spreads," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 235-248.
    86. Switzer, Lorne N. & Picard, Alan, 2016. "Stock market liquidity and economic cycles: A non-linear approach," Economic Modelling, Elsevier, vol. 57(C), pages 106-119.
    87. Huang, Xiaoyong & Yu, Cong & Chen, Yunping & Jia, Fei & Xu, Xiangyun, 2022. "Rigid payment breaking, default spread and yields of Chinese treasury bonds," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
    88. Abad, David & Nieto, Belén & Pascual, Roberto & Rubio, Gonzalo, 2023. "Market-wide illiquidity and the distribution of non-parametric stochastic discount factors," International Review of Financial Analysis, Elsevier, vol. 87(C).
    89. Conghui Hu & Zhibing Li & Xiaoyu Liu, 2020. "Liquidity shocks, commodity financialization, and market comovements," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(9), pages 1315-1336, September.
    90. Belén Nieto & Alfonso Novales Cinca & Gonzalo Rubio, 2014. "Macroeconomic and Financial Determinants of the Volatility of Corporate Bond Returns," Documentos de Trabajo del ICAE 2014-25, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    91. Helberg, Stig & Lindset, Snorre, 2016. "Risk protection from risky collateral: Evidence from the euro bond market," Journal of Banking & Finance, Elsevier, vol. 70(C), pages 193-213.
    92. Leal, Diego & Stanhouse, Bryan & Stock, Duane, 2020. "Estimating the term structure of corporate bond liquidity premiums: An analysis of default free bank bonds," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 67(C).
    93. Helwege, Jean & Wang, Liying, 2021. "Liquidity and price pressure in the corporate bond market: evidence from mega-bonds," Journal of Financial Intermediation, Elsevier, vol. 48(C).
    94. Chen, Xi & Wang, Junbo & Wu, Chunchi & Wu, Di, 2024. "Extreme illiquidity and cross-sectional corporate bond returns," Journal of Financial Markets, Elsevier, vol. 68(C).
    95. Acharya, Viral V. & Pedersen, Lasse Heje, 2019. "Economics with Market Liquidity Risk," Critical Finance Review, now publishers, vol. 8(1-2), pages 111-125, December.
    96. Díaz, Antonio & Groba, Jonatan & Serrano, Pedro, 2013. "What drives corporate default risk premia? Evidence from the CDS market," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 529-563.
    97. Amihud, Yakov & Noh, Joonki, 2021. "The pricing of the illiquidity factor’s conditional risk with time-varying premium," Journal of Financial Markets, Elsevier, vol. 56(C).
    98. Qin, Yiyi & Cai, Jun & Wang, James J.D. & Webb, Robert I., 2023. "Gold-mining stocks, risk factors, and tail patterns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    99. Alizadeh, Amir H. & Kappou, Konstantina & Tsouknidis, Dimitris & Visvikis, Ilias, 2015. "Liquidity effects and FFA returns in the international shipping derivatives market," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 76(C), pages 58-75.
    100. Li, Yulin & Wald, John K. & Wang, Zijun, 2020. "Sovereign bonds, coskewness, and monetary policy regimes," Journal of Financial Stability, Elsevier, vol. 50(C).
    101. Yang, Huan & Cai, Jun & Huang, Lin & Marcus, Alan J., 2021. "Bank stocks, risk factors, and tail behavior," Journal of Empirical Finance, Elsevier, vol. 63(C), pages 203-229.
    102. Korangi, Kamesh & Mues, Christophe & Bravo, Cristián, 2023. "A transformer-based model for default prediction in mid-cap corporate markets," European Journal of Operational Research, Elsevier, vol. 308(1), pages 306-320.
    103. Stavros Degiannakis & Andreas Andrikopoulos & Timotheos Angelidis & Christos Floros, 2013. "Return dispersion, stock market liquidity and aggregate economic activity," Working Papers 166, Bank of Greece.
    104. Apergis, Nicholas & Eleftheriou, Sofia, 2016. "Gold returns: Do business cycle asymmetries matter? Evidence from an international country sample," Economic Modelling, Elsevier, vol. 57(C), pages 164-170.
    105. Samir Kadiric & Arthur Korus, 2018. "Effects of Brexit on Corporate Yield Spreads: Evidence from UK and Eurozone Corporate Bond Markets," EIIW Discussion paper disbei251, Universitätsbibliothek Wuppertal, University Library.
    106. Chen, Long & Zhang, Gaiyan & Zhang, Weina, 2016. "Return predictability in the corporate bond market along the supply chain," Journal of Financial Markets, Elsevier, vol. 29(C), pages 66-86.
    107. Bethke, Sebastian & Gehde-Trapp, Monika & Kempf, Alexander, 2014. "Investor sentiment, flight-to-quality, and corporate bond comovement," CFR Working Papers 13-06 [rev.2], University of Cologne, Centre for Financial Research (CFR).
    108. Saad, Mohsen & Samet, Anis, 2017. "Liquidity and the implied cost of equity capital," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 15-38.
    109. Schuster, Philipp & Uhrig-Homburg, Marliese, 2015. "Limits to arbitrage and the term structure of bond illiquidity premiums," Journal of Banking & Finance, Elsevier, vol. 57(C), pages 143-159.
    110. Groba, Jonatan & Lafuente Luengo, Juan Ángel, 2014. "On the compensation for illiquidity in sovereign credit markets," DEE - Working Papers. Business Economics. WB wb142911, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    111. Jiang, Lei, 2014. "Stock liquidity and the Taylor rule," Journal of Empirical Finance, Elsevier, vol. 28(C), pages 202-214.
    112. Hu, Conghui & Liu, Yu-Jane & Zhu, Ning, 2019. "De-Leverage and illiquidity contagion," Journal of Banking & Finance, Elsevier, vol. 102(C), pages 1-18.
    113. Ali Ebrahim Nejad & Saeid Hoseinzade & Aryan Molanaei, 2023. "Flight from Liquidity and Corporate Bond Yields," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 32(5), pages 255-283, December.
    114. Lian, Ziying & Cai, Jun & Webb, Robert I., 2020. "Oil stocks, risk factors, and tail behavior," Energy Economics, Elsevier, vol. 91(C).
    115. Helwege, Jean & Huang, Jing-Zhi & Wang, Yuan, 2014. "Liquidity effects in corporate bond spreads," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 105-116.
    116. Xu, Yanyan & Liu, Jing & Ma, Feng & Chu, Jielei, 2024. "Liquidity and realized volatility prediction in Chinese stock market: A time-varying transitional dynamic perspective," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 543-560.
    117. Yadav, Jayant, 2020. "Flight to Safety in Business cycles," MPRA Paper 104093, University Library of Munich, Germany.
    118. Bethke, Sebastian & Gehde-Trapp, Monika & Kempf, Alexander, 2017. "Investor sentiment, flight-to-quality, and corporate bond comovement," Journal of Banking & Finance, Elsevier, vol. 82(C), pages 112-132.
    119. Kalimipalli, Madhu & Nayak, Subhankar, 2012. "Idiosyncratic volatility vs. liquidity? Evidence from the US corporate bond market," Journal of Financial Intermediation, Elsevier, vol. 21(2), pages 217-242.
    120. Bessler, Wolfgang & Kurmann, Philipp & Nohel, Tom, 2015. "Time-varying systematic and idiosyncratic risk exposures of US bank holding companies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 35(C), pages 45-68.
    121. Haselmann, Rainer & Kick, Thomas & Singla, Shikhar & Vig, Vikrant, 2022. "Capital regulation, market-making, and liquidity," LawFin Working Paper Series 44, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    122. van Dijk, Dorinth W., 2024. "Local constant-quality housing market liquidity indices," Regional Science and Urban Economics, Elsevier, vol. 106(C).

  3. Acharya, Viral & Amihud, Yakov & Litov, Lubomir P., 2008. "Creditor Rights and Corporate Risk-taking," CEPR Discussion Papers 6697, C.E.P.R. Discussion Papers.

    Cited by:

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    1. Jón Daníelsson & Francisco Peñaranda, 2011. "On The Impact Of Fundamentals, Liquidity, And Coordination On Market Stability," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(3), pages 621-638, August.
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    7. Rojahn, Joachim & Röhl, Christian W. & Frère, Eric, 2010. "Optimum Portfolio ETF Indices: Benchmarking für multidimensional diversifizierte Wertpapierportfolios," Berichte aus der Forschung der FOM 75202, FOM Hochschule für Oekonomie & Management.
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    3. Katsumi Shimotsu & Alex Maynard, 2004. "Covariance-based orthogonality tests for regressors with unknown persistence," Econometric Society 2004 Far Eastern Meetings 518, Econometric Society.
    4. Jacob Boudoukh & Matthew Richardson & Robert Whitelaw, 2005. "The Myth of Long-Horizon Predictability," NBER Working Papers 11841, National Bureau of Economic Research, Inc.

  7. Yakov Amihud & Haim Mendelson & Beni Lauterbach, 1996. "Market Microstructure and Securities Values: Evidence From the Tel Aviv Stock Exchange," New York University, Leonard N. Stern School Finance Department Working Paper Seires 96-7, New York University, Leonard N. Stern School of Business-.

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Articles

  1. Amihud, Yakov & Stoyanov, Stoyan, 2017. "Do staggered boards harm shareholders?," Journal of Financial Economics, Elsevier, vol. 123(2), pages 432-439.

    Cited by:

    1. Su, Zhiwei & Xue, Yi, 2023. "Takeover deterrence with state ownership: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 146(C).
    2. Cremers, K.J. Martijn & Litov, Lubomir P. & Sepe, Simone M., 2017. "Staggered boards and long-term firm value, revisited," Journal of Financial Economics, Elsevier, vol. 126(2), pages 422-444.
    3. Mbanyele, William & Huang, Hongyun, 2024. "Staggered boards, agency costs and stock price crash risk: Evidence from China," Research in International Business and Finance, Elsevier, vol. 71(C).
    4. Ferreira, Daniel & Kershaw, David & Kirchmaier, Tom & Schuster, Edmund, 2021. "Management insulation and bank failures," LSE Research Online Documents on Economics 110428, London School of Economics and Political Science, LSE Library.
    5. Oğuzhan Karakas & Mahdi Mohseni, 2021. "Staggered Boards and the Value of Voting Rights [One share-one vote: The empirical evidence]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 10(3), pages 513-550.
    6. Felix von Meyerinck & Alexandra Niessen-Ruenzi & Markus Schmid & Steven Davidoff Solomon, 2019. "As California goes, so goes the nation? Board gender quotas and the legislation of non-economic values," Working Papers on Finance 1904, University of St. Gallen, School of Finance, revised Dec 2019.
    7. Tristan Oliver Stenzaly, 2023. "The effect of staggered boards on firm value during market shocks," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 37(4), pages 457-497, December.
    8. Zhang, Shuran, 2021. "Directors’ career concerns: Evidence from proxy contests and board interlocks," Journal of Financial Economics, Elsevier, vol. 140(3), pages 894-915.
    9. Hshieh, Shenje & Li, Jiasun & Tang, Yingcong, 2021. "How do passive funds act as active owners? Evidence from mutual fund voting records," Journal of Corporate Finance, Elsevier, vol. 66(C).
    10. Tim Baldenius & Xiaojing Meng & Lin Qiu, 2021. "The value of board commitment," Review of Accounting Studies, Springer, vol. 26(4), pages 1587-1622, December.
    11. Georgios Chortareas & Fangyuan Kou & Alexia Ventouri, 2024. "Corporate pollution and reputational exposure," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 33(2), pages 149-178, May.

  2. Yakov Amihud & Haim Mendelson, 2015. "The Pricing of Illiquidity as a Characteristic and as Risk," Multinational Finance Journal, Multinational Finance Journal, vol. 19(3), pages 149-168, September.

    Cited by:

    1. Sergio Bianchi & Massimiliano Frezza, 2018. "Liquidity, Efficiency and the 2007-2008 Global Financial Crisis," Annals of Economics and Finance, Society for AEF, vol. 19(2), pages 375-404, November.
    2. Będowska-Sójka, Barbara & Kliber, Agata, 2019. "The causality between liquidity and volatility in the Polish stock market," Finance Research Letters, Elsevier, vol. 30(C), pages 110-115.
    3. Bagnara, Matteo & Jappelli, Ruggero, 2022. "Liquidity derivatives," SAFE Working Paper Series 358, Leibniz Institute for Financial Research SAFE.
    4. Będowska-Sójka, Barbara, 2018. "The coherence of liquidity measures. The evidence from the emerging market," Finance Research Letters, Elsevier, vol. 27(C), pages 118-123.
    5. Barbara Będowska-Sójka, 2021. "Is liquidity wasted? The zero-returns on the Warsaw Stock Exchange," Annals of Operations Research, Springer, vol. 297(1), pages 37-51, February.
    6. Kaul, Aditya & Kayacetin, Nuri Volkan, 2017. "Flight-to-quality, economic fundamentals, and stock returns," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 162-175.
    7. Barbara Bedowska-Sojka, 2017. "Porownanie miesiecznych miar plynnosci akcji spolek notowanych na GPW wyznaczanych na podstawie danych niskiej czestotliwosci," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 15(66), pages 178-192.
    8. Yafeng Qin & Guoyao Pan & Min Bai, 2020. "Improving market timing of time series momentum in the Chinese stock market," Applied Economics, Taylor & Francis Journals, vol. 52(43), pages 4711-4725, September.
    9. Haykir, Ozkan & Yagli, Ibrahim & Aktekin Gok, Emine Dilara & Budak, Hilal, 2022. "Oil price explosivity and stock return: Do sector and firm size matter?," Resources Policy, Elsevier, vol. 78(C).
    10. Hafner, C. M., 2022. "Dynamic Autoregressive Liquidity (DArLiQ)," Janeway Institute Working Papers 2206, Faculty of Economics, University of Cambridge.
    11. Igor Kravchuk, 2017. "Indeks stresu na rynku zbywalnych instrumentow finansowych w Polsce," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 15(66), pages 193-206.
    12. Będowska-Sójka, Barbara, 2019. "The dynamics of low-frequency liquidity measures: The developed versus the emerging market," Journal of Financial Stability, Elsevier, vol. 42(C), pages 136-142.
    13. Valentina Cioli & Tronconi Giacomo & Alessandro Giannozzi & Oliviero Roggi, 2023. "Stock Liquidity and Corporate Investment Policy after FTSE 100 Index Additions," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(10), pages 1-20, February.
    14. Thomas Paul & Thomas Walther & André Küster-Simic, 2022. "Empirical analysis of the illiquidity premia of German real estate securities," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 36(2), pages 203-260, June.

  3. Amihud, Yakov & Hameed, Allaudeen & Kang, Wenjin & Zhang, Huiping, 2015. "The illiquidity premium: International evidence," Journal of Financial Economics, Elsevier, vol. 117(2), pages 350-368.

    Cited by:

    1. Han, Min-Yeon & Jun, Sang-Gyung & Oh, Ji Yeol Jimmy & Kang, Hyoung-Goo, 2023. "Who should choose the money managers? Institutional sponsors' equity manager performance," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    2. Ramos, Henrique Pinto & Righi, Marcelo Brutti, 2020. "Liquidity, implied volatility and tail risk: A comparison of liquidity measures," International Review of Financial Analysis, Elsevier, vol. 69(C).
    3. Julian di Giovanni & Galina Hale, 2020. "Stock Market Spillovers via the Global Production Network: Transmission of U.S. Monetary Policy," Staff Reports 945, Federal Reserve Bank of New York.
    4. Suraj Kumar & Krishna Prasanna, 2019. "Global Financial Crisis: Dynamics of Liquidity Risk in Emerging Asia," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(3), pages 339-362, December.
    5. Héla Ben Soltane & Kamel Naoui, 2021. "Time‐varying responses of stock returns to market illiquidity: Stress scenario with regime‐switching framework," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1611-1622, January.
    6. Xuechun Zhang & Ruihui Xu & Xue Liu, 2022. "Premiums between Cross‐listed Shares: Determinants and Assessment of Financial Reform Policy Effectiveness," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(3), pages 75-99, May.
    7. Park, Jin Suk & Newaz, Mohammad Khaleq, 2021. "Liquidity and short-run predictability: Evidence from international stock markets," Global Finance Journal, Elsevier, vol. 50(C).
    8. Dayong Lv & Wenfeng Wu, 2020. "Margin trading and price efficiency: information content or price‐adjustment speed?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 2889-2918, September.
    9. Iwanaga, Yasuhiro & Hirose, Takehide, 2023. "Liquidity changes and decomposition in the Japanese equity market," Pacific-Basin Finance Journal, Elsevier, vol. 81(C).
    10. Dekker, Lennart, 2024. "Essays on asset liquidity and investment funds," Other publications TiSEM 5fc9bf77-84e7-4a36-9e3a-1, Tilburg University, School of Economics and Management.
    11. Samarasinghe, Ama & Uylangco, Katherine, 2021. "An examination of the effect of stock market liquidity on bank market power," International Review of Financial Analysis, Elsevier, vol. 77(C).
    12. Zhang, Bing & Chen, Wei & Yeh, Chung-Ying, 2021. "Turnover premia in China's stock markets," Pacific-Basin Finance Journal, Elsevier, vol. 65(C).
    13. Md Safiullah & Abul Shamsuddin, 2021. "Asset pricing factors in Islamic equity returns," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 523-554, June.
    14. Chen, Catherine Huirong & Choy, Siu Kai & Tan, Yongxian, 2022. "The cash conversion cycle spread: International evidence," Journal of Banking & Finance, Elsevier, vol. 140(C).
    15. Hameed, Allaudeen & Ni, Zhenghui & Tan, Chek Ann, 2023. "Momentum and individual investor trades: Evidence from Singapore," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    16. Saumya Ranjan Dash & Debasish Maitra & Byomakesh Debata & Jitendra Mahakud, 2021. "Economic policy uncertainty and stock market liquidity: Evidence from G7 countries," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 611-626, June.
    17. Thomas Johann & Stefan Scharnowski & Erik Theissen & Christian Westheide & Lukas Zimmermann, 2019. "Liquidity in the German Stock Market," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 71(4), pages 443-473, October.
    18. Ma, Rui & Anderson, Hamish D. & Marshall, Ben R., 2019. "Risk perceptions and international stock market liquidity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 94-116.
    19. Sergio Bianchi & Massimiliano Frezza, 2018. "Liquidity, Efficiency and the 2007-2008 Global Financial Crisis," Annals of Economics and Finance, Society for AEF, vol. 19(2), pages 375-404, November.
    20. Chiu, Junmao & Lien, Donald & Tsai, Wei-Che, 2023. "Global financial crisis, funding constraints, and liquidity of VIX futures," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    21. Ma, Rui & Anderson, Hamish D. & Marshall, Ben R., 2018. "Stock market liquidity and trading activity: Is China different?," International Review of Financial Analysis, Elsevier, vol. 56(C), pages 32-51.
    22. Andreou, Christoforos K. & Lambertides, Neophytos & Savvides, Andreas, 2020. "Sovereign credit risk and global equity fund returns in emerging markets," Journal of International Money and Finance, Elsevier, vol. 107(C).
    23. Brandao-Marques, Luis & Gelos, Gaston & Melgar, Natalia, 2018. "Country transparency and the global transmission of financial shocks," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 56-72.
    24. Mahfooz Alam & Valeed Ahmad Ansari, 2020. "Mutual fund managers’ market timing abilities: Indian evidence," Journal of Asset Management, Palgrave Macmillan, vol. 21(4), pages 342-354, July.
    25. Su, Zhi & Lyu, Tongtong & Yin, Libo, 2022. "China's illiquidity premium: Due to risk-taking or mispricing?," Pacific-Basin Finance Journal, Elsevier, vol. 76(C).
    26. Hanselaar, Rogier & Stulz, Rene M. & Van Dijk, Mathijs A., 2017. "Do Firms Issue More Equity When Markets Become More Liquid?," Working Paper Series 2016-24, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    27. Chen, Xi & Wang, Junbo & Wang, Yanchu & Zhong, Xiaoling, 2023. "Extreme illiquidity and stock returns: Evidence from Thailand market," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    28. Cakici, Nusret & Zaremba, Adam, 2021. "Liquidity and the cross-section of international stock returns," Journal of Banking & Finance, Elsevier, vol. 127(C).
    29. Eduardo Bered Fernandes Vieira & Tiago Pascoal Filomena, 2020. "Liquidity Constraints for Portfolio Selection Based on Financial Volume," Computational Economics, Springer;Society for Computational Economics, vol. 56(4), pages 1055-1077, December.
    30. Samarasinghe, Ama, 2023. "Stock market liquidity and bank stability," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    31. Cakici, Nusret & Zaremba, Adam, 2023. "Recency bias and the cross-section of international stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    32. Sobhesh Kumar Agarwalla & Sumit Saurav & Jayanth R. Varma, 2022. "Lottery and bubble stocks and the cross‐section of option‐implied tail risks," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(2), pages 231-249, February.
    33. Zaremba, Adam & Szyszka, Adam & Karathanasopoulos, Andreas & Mikutowski, Mateusz, 2021. "Herding for profits: Market breadth and the cross-section of global equity returns," Economic Modelling, Elsevier, vol. 97(C), pages 348-364.
    34. Alcock, Jamie & Sinagl, Petra, 2022. "International determinants of asymmetric dependence in investment returns," Journal of International Money and Finance, Elsevier, vol. 122(C).
    35. Chui, Andy & Ranganathan, Kavitha & Rohit, Abhishek & Veeraraghavan, Madhu, 2023. "Momentum, reversals and liquidity: Indian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    36. Cakici, Nusret & Zaremba, Adam, 2022. "Salience theory and the cross-section of stock returns: International and further evidence," Journal of Financial Economics, Elsevier, vol. 146(2), pages 689-725.
    37. Gaurav Kumar & Arun Kumar Misra & Abhay Pant & Molla Ramizur Rahman, 2024. "Assessing Commonality in Liquidity: Evidence from an Emerging Market’s Index Stocks," Global Business Review, International Management Institute, vol. 25(2), pages 302-322, April.
    38. Chen, Jing & Dong, Yizhe & Hou, Wenxuan & McMillan, David G., 2018. "Does feedback trading drive returns of cross-listed shares?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 53(C), pages 179-199.
    39. Chiu, Junmao & Chung, Huimin, 2019. "Legal institutions and fragile financial markets," Journal of International Money and Finance, Elsevier, vol. 93(C), pages 277-298.
    40. Xiang, Yun & He, Jiaxuan, 2022. "Pairs trading and asset pricing," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    41. Ismail, Ahmad & Khalil, Samer & Safieddine, Assem & Titman, Sheridan, 2019. "Smart investments by smart money: Evidence from acquirers' projected synergies," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 343-363.
    42. Till, Gábor, 2021. "Az árfolyam-nyereség arány szerepe a német tőzsdei kereskedésben [The role of the P/E ratio in trading on the German stock exchange]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 815-846.
    43. An, Jiyoun & Ho, Kin-Yip & Zhang, Zhaoyong, 2020. "What drives the liquidity premium in the Chinese stock market?," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    44. Zaremba, Adam & Kizys, Renatas & Tzouvanas, Panagiotis & Aharon, David Y. & Demir, Ender, 2021. "The quest for multidimensional financial immunity to the COVID-19 pandemic: Evidence from international stock markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
    45. Jun Liu & Kai Wu & Fuwei Jiang & Zhiqi Shen, 2023. "How is illiquidity priced in the Chinese stock market?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 1285-1320, April.
    46. Xiaofeng Quan & Cheng Xiang & Donghui Li & Kelvin Jui Keng Tan, 2023. "To see is to believe: Corporate site visits and mutual fund herding," Financial Management, Financial Management Association International, vol. 52(4), pages 711-740, December.
    47. Hilal Anwar Butt, Ihsan Ullah Badshah, Muhammad Tahir Suleman, 2017. "Illusory Nature of Pricing of Illiquidity Effect: The Test Case of Australian Stock Market," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 2(2), pages 115-129, October.
    48. Mardy Chiah & Philip Gharghori & Angel Zhong, 2020. "Comovement in Anomalies between the Australian and US Equity Markets," International Review of Finance, International Review of Finance Ltd., vol. 20(4), pages 1005-1017, December.
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    51. Gitit Gur Gershgoren & Elroi Hadad & Haim Kedar-Levy, 2020. "A Deep Market In Israeli Corporate Bonds: Macro And Microeconomic Analysis In Light Of The Accounting Standards," Israel Economic Review, Bank of Israel, vol. 18(1), pages 139-176.
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    65. Chen, Zhihong & Huang, Yuan & Kusnadi, Yuanto & John Wei, K.C., 2017. "The real effect of the initial enforcement of insider trading laws," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 687-709.
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    67. Zhao, Yuyang & Xiang, Cheng & Cai, Wenwu, 2021. "Stock market liberalization and institutional herding: Evidence from the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connects," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
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    93. Lee, Kuan-Hui & Wang, Shu-Feng, 2023. "Allocation of attention and the delayed reaction of stock returns to liquidity shock: Global evidence," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 421-444.
    94. Ho, Kin-Yip & An, Jiyoun, 2020. "Decomposing the value premium: The role of intangible information in the Chinese stock market," Emerging Markets Review, Elsevier, vol. 44(C).
    95. Berggrun, Luis & Cardona, Emilio & Lizarzaburu, Edmundo, 2020. "Firm profitability and expected stock returns: Evidence from Latin America," Research in International Business and Finance, Elsevier, vol. 51(C).
    96. Pan, Beier, 2023. "The asymmetric dynamics of stock–bond liquidity correlation in China: The role of macro-financial determinants," Economic Modelling, Elsevier, vol. 124(C).
    97. Peranginangin, Yessy & Ali, Akbar Z. & Brockman, Paul & Zurbruegg, Ralf, 2016. "The impact of foreign trades on emerging market liquidity," Pacific-Basin Finance Journal, Elsevier, vol. 40(PA), pages 1-16.
    98. Dhasmana, Samriddhi & Goel, Sandeep, 2023. "The insidious hyperreality in financial markets: An integrative review with evidence from the Indian financial market," International Review of Financial Analysis, Elsevier, vol. 90(C).
    99. Chen, Xi & Wang, Junbo & Wu, Chunchi & Wu, Di, 2024. "Extreme illiquidity and cross-sectional corporate bond returns," Journal of Financial Markets, Elsevier, vol. 68(C).
    100. Butt, Hilal Anwar & Högholm, Kenneth & Sadaqat, Mohsin, 2021. "Reversal returns and expected returns from liquidity provision: Evidence from emerging markets," Journal of Multinational Financial Management, Elsevier, vol. 59(C).
    101. Nan Qin & Vijay Singal, 2023. "Effect of high‐frequency trading on mutual fund performance," The Financial Review, Eastern Finance Association, vol. 58(2), pages 369-394, May.
    102. Eisl, Alexander & Ochs, Christian & Staghøj, Jonas & Subrahmanyam, Marti G., 2022. "Sovereign issuers, incentives and liquidity: The case of the Danish sovereign bond market," Journal of Banking & Finance, Elsevier, vol. 140(C).
    103. Cakici, Nusret & Zaremba, Adam, 2021. "Who should be afraid of infections? Pandemic exposure and the cross-section of stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
    104. Amihud, Yakov & Noh, Joonki, 2021. "The pricing of the illiquidity factor’s conditional risk with time-varying premium," Journal of Financial Markets, Elsevier, vol. 56(C).
    105. David R. Gallagher & Graham Harman & Camille H. Schmidt & Geoffrey J. Warren, 2022. "Global equity fund performance adjusted for equity and currency factors," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(S1), pages 1535-1565, April.
    106. Mohammad Sharik Essa & Evangelos Giouvris, 2020. "Oil Price, Oil Price Implied Volatility (OVX) and Illiquidity Premiums in the US: (A)symmetry and the Impact of Macroeconomic Factors," JRFM, MDPI, vol. 13(4), pages 1-40, April.
    107. Feng, Frank Yulin & Kang, Wenjin & Zhang, Huiping, 2023. "Liquidity shocks and the negative premium of liquidity volatility around the world," Journal of International Money and Finance, Elsevier, vol. 139(C).
    108. Szymon Stereńczak, 2020. "State-Dependent Stock Liquidity Premium: The Case of the Warsaw Stock Exchange," IJFS, MDPI, vol. 8(1), pages 1-24, March.
    109. Hendershott, Terrence & Livdan, Dmitry & Rösch, Dominik, 2020. "Asset pricing: A tale of night and day," Journal of Financial Economics, Elsevier, vol. 138(3), pages 635-662.
    110. Saad, Mohsen & Samet, Anis, 2017. "Liquidity and the implied cost of equity capital," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 15-38.
    111. Mousumi Bhattacharya & Sharad Nath Bhattacharya & Sumit Kumar Jha, 2022. "Does time-varying illiquidity matter for the Indian stock market? Evidence from high-frequency data," Australian Journal of Management, Australian School of Business, vol. 47(2), pages 251-272, May.
    112. Hamdan Amer Al-Jaifi & Ahmed Hussein Al-rassas & Adel Ali AL-Qadasi, 2017. "Corporate governance strength and stock market liquidity in Malaysia," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 13(5), pages 592-610, August.
    113. Hu, Zhijun & Sun, Ping-Wen, 2024. "Salience theory, investor sentiment, and commonality in sentiment: Evidence from the Chinese stock market," Journal of Behavioral and Experimental Finance, Elsevier, vol. 42(C).
    114. Dong, Liang & Yu, Bo & Qin, Zhenjiang & Lam, Keith S.K., 2024. "Liquidity risk and expected returns in China’s stock market: A multidimensional liquidity approach," Research in International Business and Finance, Elsevier, vol. 69(C).
    115. Ma, Rui & Anderson, Hamish D. & Marshall, Ben R., 2018. "Market volatility, liquidity shocks, and stock returns: Worldwide evidence," Pacific-Basin Finance Journal, Elsevier, vol. 49(C), pages 164-199.
    116. Hauser, Shmuel & Kedar-Levy, Haim, 2018. "Liquidity might come at cost: The role of heterogeneous preferences," Journal of Financial Markets, Elsevier, vol. 39(C), pages 1-23.
    117. Muñoz Mendoza, Jorge A. & Ferreira, Guillermo & Márquez Sanders, Vicente A., 2023. "Liquidity spillovers in the global stock markets: Lessons for risk management," Global Finance Journal, Elsevier, vol. 58(C).
    118. Annaert, Jan & De Ceuster, Marc & Van Doninck, Freek, 2022. "Decomposing the idiosyncratic volatility anomaly among euro area stocks," Finance Research Letters, Elsevier, vol. 47(PB).
    119. Chiu, Junmao & Chung, Huimin & Ho, Keng-Yu & Wu, Chih-Chiang, 2018. "Investor sentiment and evaporating liquidity during the financial crisis," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 21-36.
    120. Butt, Hilal Anwar & Kolari, James W. & Sadaqat, Mohsin, 2021. "Revisiting momentum profits in emerging markets," Pacific-Basin Finance Journal, Elsevier, vol. 65(C).
    121. Haixiang Yao & Shenghao Xia & Hao Liu, 2024. "Return predictability via an long short‐term memory‐based cross‐section factor model: Evidence from Chinese stock market," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(6), pages 1770-1794, September.
    122. Yashar H Barardehi & Dan Bernhardt & Thomas G Ruchti & Marc Weidenmier, 2021. "The Night and Day of Amihud’s (2002) Liquidity Measure [Asset pricing with liquidity risk]," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 11(2), pages 269-308.
    123. Li, Shaoyu & Zhang, Teng & Li, Yingxiang, 2019. "Flight-to-liquidity: Evidence from China's stock market," Emerging Markets Review, Elsevier, vol. 38(C), pages 159-181.
    124. Alhomaidi, Asem & Hassan, M. Kabir & Hippler, William J. & Mamun, Abdullah, 2019. "The impact of religious certification on market segmentation and investor recognition," Journal of Corporate Finance, Elsevier, vol. 55(C), pages 28-48.
    125. Cristina Ganja, 2019. "The liquidity premium: Evidence from the Polish stock market," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 11(1), pages 7-13, June.
    126. Mu-Shun Wang, 2022. "Shareholder Disputes and Commonality in Liquidity: Evidence from the Equity Markets in China," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(2), pages 291-325, June.
    127. Dang, Tung Lam & Dang, Man & Hoang, Luong & Nguyen, Lily & Phan, Hoang Long, 2020. "Media coverage and stock price synchronicity," International Review of Financial Analysis, Elsevier, vol. 67(C).
    128. Bai, Min & Qin, Yafeng & Zhang, Huiping, 2021. "Stock price crashes in emerging markets," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 466-482.

  4. Yakov Amihud & Allaudeen Hameed & Wenjin Kang & Huiping Zhang, 2015. "Stock Liquidity and the Cost of Equity Capital in Global Markets," Journal of Applied Corporate Finance, Morgan Stanley, vol. 27(4), pages 68-74, December.

    Cited by:

    1. Pham, Thu Phuong & Singh, Harminder & Vu, Van Hoang, 2023. "The impact of bank loan announcements on stock liquidity," MPRA Paper 116398, University Library of Munich, Germany.
    2. Seonhyeon Kim & Jin-young Jung & Sung-woo Cho, 2021. "Does Information Asymmetry Affect Dividend Policy? Analysis Using Market Microstructure Variables," Sustainability, MDPI, vol. 13(7), pages 1-19, March.
    3. E. Netunaev B. & Е. Нетунаев Б., 2017. "Феномен Заразных Финансовых Пузырей // The Phenomenon Of Contagious Financial Bubbles," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(6), pages 154-165.
    4. Prodromou, Tina & Demirer, Riza, 2022. "Oil price shocks and cost of capital: Does market liquidity play a role?," Energy Economics, Elsevier, vol. 115(C).
    5. Zadeh, Mohammad Hendijani, 2023. "Stock liquidity and societal trust," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).

  5. Acharya, Viral V. & Amihud, Yakov & Bharath, Sreedhar T., 2013. "Liquidity risk of corporate bond returns: conditional approach," Journal of Financial Economics, Elsevier, vol. 110(2), pages 358-386.
    See citations under working paper version above.
  6. Yakov Amihud & Ruslan Goyenko, 2013. "Mutual Fund's R-super-2 as Predictor of Performance," The Review of Financial Studies, Society for Financial Studies, vol. 26(3), pages 667-694.

    Cited by:

    1. Mazur, Mieszko & Salganik-Shoshan, Galla & Zagonov, Maxim, 2017. "Comparing performance sensitivity of retail and institutional mutual funds’ investment flows," Finance Research Letters, Elsevier, vol. 22(C), pages 66-73.
    2. Harry Flam & Roine Vestman, 2017. "Swedish Equity Mutual Funds 1993-2013: Performance, Persistence and Presence of Skill," CESifo Working Paper Series 6713, CESifo.
    3. Hamed Yousefi & Mohammad Najand & Licheng Sun, 2024. "The flow‐performance puzzle: Insights from passive and active ETFs," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 3623-3656, December.
    4. George J. Jiang & Tong Yao & Gulnara R. Zaynutdinova, 2023. "The effect of investor service costs on mutual fund performance," The Financial Review, Eastern Finance Association, vol. 58(1), pages 91-115, February.
    5. Dannhauser, Caitlin D. & Spilker, Harold D., 2023. "The Modern Mutual Fund Family," Journal of Financial Economics, Elsevier, vol. 148(1), pages 1-20.

  7. Acharya, Viral V. & Amihud, Yakov & Litov, Lubomir, 2011. "Creditor rights and corporate risk-taking," Journal of Financial Economics, Elsevier, vol. 102(1), pages 150-166, October.
    See citations under working paper version above.
  8. Amihud, Yakov & Hurvich, Clifford M. & Wang, Yi, 2010. "Predictive regression with order-p autoregressive predictors," Journal of Empirical Finance, Elsevier, vol. 17(3), pages 513-525, June.

    Cited by:

    1. Amélie Charles & Olivier Darné & Jae H. Kim, 2022. "Stock return predictability: Evaluation based on interval forecasts," Bulletin of Economic Research, Wiley Blackwell, vol. 74(2), pages 363-385, April.
    2. Engsted, Tom & Pedersen, Thomas Q., 2012. "Return predictability and intertemporal asset allocation: Evidence from a bias-adjusted VAR model," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 241-253.
    3. Kim, Jae H., 2014. "Testing for parameter restrictions in a stationary VAR model: A bootstrap alternative," Economic Modelling, Elsevier, vol. 41(C), pages 267-273.
    4. Amélie Charles & Olivier Darné & Jae H. Kim, 2016. "Stock Return Predictability: Evaluation based on prediction intervals," Working Papers hal-01295037, HAL.
    5. Demetrescu, Matei & Rodrigues, Paulo M.M., 2022. "Residual-augmented IVX predictive regression," Journal of Econometrics, Elsevier, vol. 227(2), pages 429-460.
    6. Demetrescu, Matei & Rodrigues, Paulo M.M. & Taylor, A.M. Robert, 2023. "Transformed regression-based long-horizon predictability tests," Journal of Econometrics, Elsevier, vol. 237(2).
    7. Jacob Boudoukh & Ronen Israel & Matthew P. Richardson, 2020. "Biases in Long-Horizon Predictive Regressions," NBER Working Papers 27410, National Bureau of Economic Research, Inc.
    8. Oktay Ozkan, 2020. "Time-varying return predictability and adaptive markets hypothesis: Evidence on MIST countries from a novel wild bootstrap likelihood ratio approach," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 34(2), pages 101-113.
    9. Jurdi, Doureige J., 2022. "Predicting the Australian equity risk premium," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
    10. Jurdi, Doureige & Kim, Jae, 2019. "Predicting the U.S. Stock Market Return: Evidence from the Improved Augmented Regression Method," MPRA Paper 94028, University Library of Munich, Germany.
    11. Lorenzo Camponovo & Olivier Scaillet & Fabio Trojani, 2018. "Predictability Hidden by Anomalous Observations," School of Economics Discussion Papers 0418, School of Economics, University of Surrey.
    12. Eiji Kurozumi & Kohei Aono, 2011. "Estimation and Inference in Predictive Regressions," Global COE Hi-Stat Discussion Paper Series gd11-192, Institute of Economic Research, Hitotsubashi University.
    13. Kim, Jae H. & Shamsuddin, Abul, 2020. "A bootstrap test for predictability of asset returns," Finance Research Letters, Elsevier, vol. 35(C).
    14. Jayetileke, Harshanie L. & Wang, You-Gan & Zhu, Min, 2021. "Predictive regression with p-lags and order-q autoregressive predictors," Journal of Empirical Finance, Elsevier, vol. 62(C), pages 282-293.
    15. Amélie Charles & Olivier Darné & Jae H Kim, 2017. "International Stock Return Predictability: Evidence from New Statistical Tests," Post-Print hal-01626101, HAL.
    16. Peter C.B. Phillips & Ye Chen, "undated". "Restricted Likelihood Ratio Tests in Predictive Regression," Cowles Foundation Discussion Papers 1968, Cowles Foundation for Research in Economics, Yale University.
    17. Boudoukh, Jacob & Israel, Ronen & Richardson, Matthew, 2022. "Biases in long-horizon predictive regressions," Journal of Financial Economics, Elsevier, vol. 145(3), pages 937-969.

  9. Yakov Amihud & Clifford M. Hurvich & Yi Wang, 2009. "Multiple-Predictor Regressions: Hypothesis Testing," The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 413-434, January.

    Cited by:

    1. Li, Yuan & Ran, Jimmy, 2020. "Investor Sentiment and Stock Price Premium Validation with Siamese Twins from China," Journal of Multinational Financial Management, Elsevier, vol. 57.
    2. Engsted, Tom & Pedersen, Thomas Q., 2012. "Return predictability and intertemporal asset allocation: Evidence from a bias-adjusted VAR model," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 241-253.
    3. Sirio Aramonte & Mohammad Jahan-Parvar & Justin Shugarman, 2015. "Institutions and return predictability in oil-exporting countries," Finance and Economics Discussion Series 2015-14, Board of Governors of the Federal Reserve System (U.S.).
    4. Samuel M. Hartzmark, 2016. "Economic Uncertainty and Interest Rates," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 6(2), pages 179-220.
    5. Fukang Zhu & Zongwu Cai & Liang Peng, 2014. "Predictive regressions for macroeconomic data," Papers 1404.7642, arXiv.org.
    6. Robin Greenwood & Samuel G. Hanson & Andrei Shleifer & Jakob Ahm Sørensen, 2020. "Predictable Financial Crises," NBER Working Papers 27396, National Bureau of Economic Research, Inc.
    7. Schrimpf, Andreas, 2008. "International Stock Return Predictability Under Model Uncertainty," ZEW Discussion Papers 08-048, ZEW - Leibniz Centre for European Economic Research.
    8. Seema Narayan & Russell Smyth, 2015. "The Financial Econometrics of Price Discovery and Predictability," Monash Economics Working Papers 06-15, Monash University, Department of Economics.
    9. Demetrescu, Matei & Rodrigues, Paulo M.M., 2022. "Residual-augmented IVX predictive regression," Journal of Econometrics, Elsevier, vol. 227(2), pages 429-460.
    10. Zongwu Cai & Haiqiang Chen & Xiaosai Liao, 2020. "A New Robust Inference for Predictive Quantile Regression," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202002, University of Kansas, Department of Economics, revised Feb 2020.
    11. Møller, Stig V. & Rangvid, Jesper, 2015. "End-of-the-year economic growth and time-varying expected returns," Journal of Financial Economics, Elsevier, vol. 115(1), pages 136-154.
    12. Paulo M.M. Rodrigues & Antonio Rubia, 2011. "A Class of Robust Tests in Augmented Predictive Regressions," Working Papers w201126, Banco de Portugal, Economics and Research Department.
    13. Gungor, Sermin & Luger, Richard, 2020. "Small-sample tests for stock return predictability with possibly non-stationary regressors and GARCH-type effects," Journal of Econometrics, Elsevier, vol. 218(2), pages 750-770.
    14. Jagjeev Dosanjh, 2017. "Exchange Initiatives and Market Efficiency: Evidence from the Australian Securities Exchange," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 1-2017, January-A.
    15. Demetrescu, Matei & Rodrigues, Paulo M.M. & Taylor, A.M. Robert, 2023. "Transformed regression-based long-horizon predictability tests," Journal of Econometrics, Elsevier, vol. 237(2).
    16. Ren, Yu & Tu, Yundong & Yi, Yanping, 2019. "Balanced predictive regressions," Journal of Empirical Finance, Elsevier, vol. 54(C), pages 118-142.
    17. Ke-Li Xu & Junjie Guo, 2021. "A New Test for Multiple Predictive Regression," CAEPR Working Papers 2022-001 Classification-C, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    18. Nonejad, Nima, 2021. "Predicting equity premium using dynamic model averaging. Does the state–space representation matter?," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    19. Harvey, David I & Leybourne, Stephen J & Taylor, AM Robert, 2021. "Simple Tests for Stock Return Predictability with Good Size and Power Properties," Essex Finance Centre Working Papers 29814, University of Essex, Essex Business School.
    20. Stefan Nagel & Zhengyang Xu, 2022. "Dynamics of Subjective Risk Premia," CESifo Working Paper Series 9693, CESifo.
    21. Stefan Bruder, 2014. "Comparing several methods to compute joint prediction regions for path forecasts generated by vector autoregressions," ECON - Working Papers 181, Department of Economics - University of Zurich, revised Dec 2015.
    22. Bakshi, Gurdip & Panayotov, George & Skoulakis, Georgios, 2011. "Improving the predictability of real economic activity and asset returns with forward variances inferred from option portfolios," Journal of Financial Economics, Elsevier, vol. 100(3), pages 475-495, June.
    23. Ferson, Wayne & Nallareddy, Suresh & Xie, Biqin, 2013. "The “out-of-sample” performance of long run risk models," Journal of Financial Economics, Elsevier, vol. 107(3), pages 537-556.
    24. Cai, Zongwu & Wang, Yunfei, 2014. "Testing predictive regression models with nonstationary regressors," Journal of Econometrics, Elsevier, vol. 178(P1), pages 4-14.
    25. Zongwu Cai & Seong Yeon Chang, 2018. "A New Test In A Predictive Regression with Structural Breaks," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201811, University of Kansas, Department of Economics, revised Dec 2018.
    26. Wenjie Ding & Khelifa Mazouz & Qingwei Wang, 2019. "Investor sentiment and the cross-section of stock returns: new theory and evidence," Review of Quantitative Finance and Accounting, Springer, vol. 53(2), pages 493-525, August.
    27. Nuno Silva, 2013. "Equity Premia Predictability in the EuroZone," GEMF Working Papers 2013-22, GEMF, Faculty of Economics, University of Coimbra.
    28. Tom Engsted & Thomas Q. Pedersen, 2014. "Bias-Correction in Vector Autoregressive Models: A Simulation Study," Econometrics, MDPI, vol. 2(1), pages 1-27, March.
    29. Tu, Yundong & Xie, Xinling, 2023. "Penetrating sporadic return predictability," Journal of Econometrics, Elsevier, vol. 237(1).
    30. Guo, Hui & Qiu, Buhui, 2014. "Options-implied variance and future stock returns," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 93-113.
    31. Han, Xing & Li, Youwei, 2017. "Can investor sentiment be a momentum time-series predictor? Evidence from China," Journal of Empirical Finance, Elsevier, vol. 42(C), pages 212-239.
    32. Zuzana Rakovska, 2020. "Composite Survey Sentiment as a Predictor of Future Market Returns: Evidence for German Equity Indices," Working Papers 2020/13, Czech National Bank.
    33. Ilaria Piatti & Fabio Trojani, 2020. "Dividend Growth Predictability and the Price–Dividend Ratio," Management Science, INFORMS, vol. 66(1), pages 130-158, January.
    34. Liu, Xiaohui & Yang, Bingduo & Cai, Zongwu & Peng, Liang, 2019. "A unified test for predictability of asset returns regardless of properties of predicting variables," Journal of Econometrics, Elsevier, vol. 208(1), pages 141-159.
    35. Trojani, Fabio & Wiehenkamp, Christian & Wrampelmeyer, Jan, 2014. "Ambiguity and Reality," Working Papers on Finance 1418, University of St. Gallen, School of Finance.
    36. Stig V. Møller & Jesper Rangvid, 2012. "End-of-the-year economic growth and time-varying expected returns," CREATES Research Papers 2012-42, Department of Economics and Business Economics, Aarhus University.
    37. Amélie Charles & Olivier Darné & Jae H Kim, 2017. "International Stock Return Predictability: Evidence from New Statistical Tests," Post-Print hal-01626101, HAL.
    38. Marshall, Ben R. & Nguyen, Hung T. & Nguyen, Nhut H. & Visaltanachoti, Nuttawat, 2021. "Country governance and international equity returns," Journal of Banking & Finance, Elsevier, vol. 122(C).
    39. Bakshi, Gurdip & Panayotov, George, 2013. "Predictability of currency carry trades and asset pricing implications," Journal of Financial Economics, Elsevier, vol. 110(1), pages 139-163.
    40. Cai, Zongwu & Chen, Haiqiang & Liao, Xiaosai, 2023. "A new robust inference for predictive quantile regression," Journal of Econometrics, Elsevier, vol. 234(1), pages 227-250.
    41. Joni Kokkonen & Matti Suominen, 2015. "Hedge Funds and Stock Market Efficiency," Management Science, INFORMS, vol. 61(12), pages 2890-2904, December.

  10. Yakov Amihud & Haim Mendelson, 2008. "Liquidity, the Value of the Firm, and Corporate Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 20(2), pages 32-45, March.

    Cited by:

    1. Thomas Johann & Erik Theissen, 2013. "Liquidity measures," Chapters, in: Adrian R. Bell & Chris Brooks & Marcel Prokopczuk (ed.), Handbook of Research Methods and Applications in Empirical Finance, chapter 10, pages 238-255, Edward Elgar Publishing.
    2. Rapheedah Musneh & Mohd. Rahimie Abdul Karim & Caroline Geetha A/P Arokiadasan Baburaw, 2021. "Liquidity risk and stock returns: empirical evidence from industrial products and services sector in Bursa Malaysia," Future Business Journal, Springer, vol. 7(1), pages 1-10, December.
    3. Hans Degryse & Frank Jong & Jérémie Lefebvre, 2016. "Legal Insider Trading and Stock Market Liquidity," De Economist, Springer, vol. 164(1), pages 83-104, March.
    4. Fujun Lai & Qiong Wu & Deping Xiong & Sha Zhu, 2024. "How Foreign Institutional Investors’ Ownership Affects Stock Liquidity? Evidence from China," SAGE Open, , vol. 14(2), pages 21582440241, June.
    5. Podedworna-Tarnowska Dorota & Kaszyński Daniel, 2022. "Stock returns and liquidity after listing switch on the Warsaw Stock Exchange," Economics and Business Review, Sciendo, vol. 8(4), pages 111-135, December.
    6. Staglianò, Raffaele & La Rocca, Maurizio & Gerace, Dionigi, 2018. "The impact of ownership concentration and analyst coverage on market liquidity: Comparative evidence from an auction and a specialist market," Economic Modelling, Elsevier, vol. 70(C), pages 203-214.
    7. Liang Tang & Zhen Gu & Qi Zhang & Jiali Liu, 2022. "RETRACTED ARTICLE: The effect of firm size, industry type and ownership structure on the relationship between firms' sustainable innovation capability and stock liquidity," Operations Management Research, Springer, vol. 15(3), pages 825-837, December.
    8. Chen, Kevin C.W. & Chen, Zhihong & Wei, K.C. John, 2009. "Legal protection of investors, corporate governance, and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 15(3), pages 273-289, June.
    9. Craig W. Holden & Stacey Jacobsen & Avanidhar Subrahmanyam, 2014. "The Empirical Analysis of Liquidity," Foundations and Trends(R) in Finance, now publishers, vol. 8(4), pages 263-365, December.
    10. Lilian Ng & Fei Wu & Jing Yu & Bohui Zhang, 2016. "Foreign Investor Heterogeneity and Stock Liquidity around the World," Review of Finance, European Finance Association, vol. 20(5), pages 1867-1910.
    11. Andres, Christian & Cumming, Douglas & Karabiber, Timur & Schweizer, Denis, 2014. "Do markets anticipate capital structure decisions? — Feedback effects in equity liquidity," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 133-156.
    12. IKEDA Shin Suke, 2017. "Illiquidity in the Japan Electric Power Exchange," Discussion papers 17122, Research Institute of Economy, Trade and Industry (RIETI).
    13. S. Amir Tabibian & Zhaoyong Zhang & Abdollah Ah Mand, 2021. "Stock Split Rule Changes and Stock Liquidity: Evidence from Bursa Malaysia," JRFM, MDPI, vol. 14(9), pages 1-15, August.
    14. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).
    15. Fecht, Falko & Füss, Roland & Rindler, Philipp B., 2014. "Corporate Transparency and Bond Liquidity," Working Papers on Finance 1404, University of St. Gallen, School of Finance.
    16. Liew, Ping-Xin & Lim, Kian-Ping & Goh, Kim-Leng, 2018. "Foreign equity flows: Boon or bane to the liquidity of Malaysian stock market?," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 161-181.
    17. Ikeda, Shin S., 2019. "Illiquidity in the Japan electric power exchange," Journal of Commodity Markets, Elsevier, vol. 14(C), pages 16-39.
    18. Li, Wei-Xuan & Chen, Clara Chia-Sheng & French, Joseph J., 2012. "The relationship between liquidity, corporate governance, and firm valuation: Evidence from Russia," Emerging Markets Review, Elsevier, vol. 13(4), pages 465-477.
    19. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "Liquidity and firm value in an emerging market: Nonlinearity, political connections and corporate ownership," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    20. Ngoc Bao Dinh & Van Nguyen Hong Tran, 2024. "Institutional Ownership and Stock Liquidity: Evidence From an Emerging Market," SAGE Open, , vol. 14(1), pages 21582440241, March.
    21. Agata Gniadkowska-Szymańska, 2021. "Liquidity of assets and liquidity of shares: the example of the Warsaw Stock Exchange," Bank i Kredyt, Narodowy Bank Polski, vol. 52(1), pages 1-22.
    22. Hadeel Yaseen & Ghassan Omet & Morad Abdel-Halim, 2015. "The 2008 Global Financial Crisis: The Case of a Market with Consistent Losses Ever Since," Eurasian Journal of Business and Management, Eurasian Publications, vol. 3(1), pages 8-19.
    23. Xuan Vinh Vo & Hong Thu Bui, 2016. "Liquidity, liquidity risk and stock returns: evidence from Vietnam," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 9(1), pages 67-89.
    24. Deng, Baijun & Li, Zhongfei & Li, Yong, 2018. "Foreign institutional ownership and liquidity commonality around the world," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 20-49.
    25. Abbas Rezazadeh Karsalari & Mohammad Tavoosi Asl & Sadegh Ahmadipour, 2017. "Investigating the Relationship between Capital Structure and Cash Resources Returns in the accepted Companies in the Securities Market," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(9), pages 223-231, September.
    26. Xiaoqiong Wang & Siqi Wei & Xiaoyang Zhu, 2024. "Economic policy uncertainty and heterogeneous institutional investor horizons," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 39-67, January.
    27. Ntantamis, Christos & Zhou, Jun, 2015. "Bull and bear markets in commodity prices and commodity stocks: Is there a relation?," Resources Policy, Elsevier, vol. 43(C), pages 61-81.
    28. Mark Lang & Karl V. Lins & Mark Maffett, 2012. "Transparency, Liquidity, and Valuation: International Evidence on When Transparency Matters Most," Journal of Accounting Research, Wiley Blackwell, vol. 50(3), pages 729-774, June.
    29. Muhammad Afaq Haider & Muhammad Asif Khan & Shamila Saddique & Shujahat Haider Hashmi, 2017. "The Impact of Stock Market Performance on Foreign Portfolio Investment in China," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 460-468.
    30. Poon, Ser-Huang & Rockinger, Michael & Stathopoulos, Konstantinos, 2013. "Market liquidity and institutional trading during the 2007–8 financial crisis," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 86-97.
    31. El Kalak, Izidin & Leung, Woon Sau & Takahashi, Hidenori & Yamada, Kazuo, 2023. "The Bank of Japan's equity purchases and stock illiquidity," Journal of Financial Markets, Elsevier, vol. 63(C).
    32. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "More shareholders, higher liquidity? Evidence from an emerging stock market," Emerging Markets Review, Elsevier, vol. 44(C).
    33. Frestad, Dennis, 2012. "Liquidity and dirty hedging in the Nordic electricity market," Energy Economics, Elsevier, vol. 34(5), pages 1341-1355.
    34. Jonathan Batten & Xuan Vinh Vo, 2019. "Liquidity And Firm Value In An Emerging Market," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(02), pages 365-376, March.
    35. Foppert, John D., 2024. "The discount rate differential required for harvesting-by-dice-rolling to outperform optimal rotation planning," Forest Policy and Economics, Elsevier, vol. 160(C).
    36. Valentina Cioli & Tronconi Giacomo & Alessandro Giannozzi & Oliviero Roggi, 2023. "Stock Liquidity and Corporate Investment Policy after FTSE 100 Index Additions," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(10), pages 1-20, February.
    37. S. Amir Tabibian & Zhaoyong Zhang & Mohsen Jafarian, 2020. "How Does Split Announcement Affect Stock Liquidity? Evidence from Bursa Malaysia," Risks, MDPI, vol. 8(3), pages 1-14, August.
    38. Banerjee, Rajabrata & Gupta, Kartick & Krishnamurti, Chandrasekhar, 2022. "Does corrupt practice increase the implied cost of equity?," Journal of Corporate Finance, Elsevier, vol. 73(C).
    39. Bazgour, Tarik & Heuchenne, Cedric & Sougné, Danielle, 2016. "Conditional portfolio allocation: Does aggregate market liquidity matter?," Journal of Empirical Finance, Elsevier, vol. 35(C), pages 110-135.
    40. Nicola Moscariello & Michele Pizzo & Dmytro Govorun & Alexander Kostyuk, 2019. "Independent minority directors and firm value in a principal–principal agency setting: evidence from Italy," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(1), pages 165-194, March.
    41. Wang, Xiaoqiong & Wei, Siqi, 2021. "Does the investment horizon of institutional investors matter for stock liquidity?," International Review of Financial Analysis, Elsevier, vol. 74(C).
    42. French, Joseph J. & Taborda, Rodrigo, 2018. "Disentangling the relationship between liquidity and returns in Latin America," Global Finance Journal, Elsevier, vol. 36(C), pages 23-40.
    43. Prodromou, Tina & Demirer, Riza, 2022. "Oil price shocks and cost of capital: Does market liquidity play a role?," Energy Economics, Elsevier, vol. 115(C).
    44. Autore, Don M. & Billingsley, Randall S. & Kovacs, Tunde, 2011. "The 2008 short sale ban: Liquidity, dispersion of opinion, and the cross-section of returns of US financial stocks," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2252-2266, September.

  11. Amihud, Yakov & Mendelson, Haim & Pedersen, Lasse Heje, 2006. "Liquidity and Asset Prices," Foundations and Trends(R) in Finance, now publishers, vol. 1(4), pages 269-364, February.
    See citations under working paper version above.
  12. Yakov Amihud & Haim Mendelson, 2006. "Stock and Bond Liquidity and its Effect on Prices and Financial Policies," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 20(1), pages 19-32, April.

    Cited by:

    1. Gann, Philipp, 2009. "Liquidität, Risikoeinstellung des Kapitalmarktes und Konjunkturerwartung als Preisdeterminanten von Collateralized Debt Obligations (CDOs) - Eine simulationsgestützte Analyse," Discussion Papers in Business Administration 10582, University of Munich, Munich School of Management.
    2. Nathan Foley-Fisher & Stefan Gissler & Stephane Verani, 2018. "Over-the-counter market liquidity and securities lending," 2018 Meeting Papers 786, Society for Economic Dynamics.
    3. Elroi Hadad & Haim Kedar-Levy, 2022. "The Impact of Retail Investors Sentiment on Conditional Volatility of Stocks and Bonds," Papers 2208.01538, arXiv.org.
    4. Matthias Bank & Martin Larch & Georg Peter, 2011. "Google search volume and its influence on liquidity and returns of German stocks," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(3), pages 239-264, September.
    5. BELTRAN-LOPEZ, Héléna & GIOT, Pierre & GRAMMIG, Joachim, 2009. "Commonalities in the order book," LIDAM Reprints CORE 2195, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Kionka, Marlene & Odening, Martin & Plogmann, Jana & Ritter, Matthias, 2020. "Measuring liquidity in agricultural land markets," FORLand Working Papers 25 (2020), Humboldt University Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets – Efficiency and Regulation".
    7. Radygin, Alexander (Радыгин, Александр) & Akshentceva, Kseniia (Акшенцева, Ксения) & Chernovа, Maria (Чернова, Мария) & Abramov, Alexander (Абрамов, Александр), 2017. "Factors Affecting the Liquidity of Corporate Bonds [Факторы, Влияющие На Ликвидность Корпоративных Облигаций]," Working Papers 041706, Russian Presidential Academy of National Economy and Public Administration.
    8. Haowen Tian & Gaoliang Tian, 2022. "Corporate sustainability and trade credit financing: Evidence from environmental, social, and governance ratings," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1896-1908, September.
    9. Azwar Abdulsalam & Gowri Jayprakash & Abhijeet Chandra, 2020. "On the Pricing of Currency Options under Variance Gamma Process," Papers 2009.14113, arXiv.org.
    10. Michael Chlistalla & Marco Lutat, 2011. "Competition in securities markets: the impact on liquidity," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(2), pages 149-172, June.
    11. Stange, Sebastian & Kaserer, Christoph, 2008. "The impact of order size on stock liquidity: a representative study," CEFS Working Paper Series 2008-09, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
    12. Tripathi, Abhinava & Dixit, Alok & Vipul,, 2021. "Liquidity commonality in extreme quantiles: Indian evidence," Finance Research Letters, Elsevier, vol. 38(C).
    13. Pietro Alessandrini & Michele Fratianni & Andrew Hughes Hallett & Andrea Filippo Presbitero, 2012. "External imbalances and financial fragility in the euro area," Mo.Fi.R. Working Papers 66, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    14. Latoeiro, Pedro & Ramos, Sofía B. & Veiga, Helena, 2013. "Predictability of stock market activity using Google search queries," DES - Working Papers. Statistics and Econometrics. WS ws130605, Universidad Carlos III de Madrid. Departamento de Estadística.
    15. Juan Pi??eiro Chousa, & Artur Tamazian, & Davit N. Melikyan,, 2008. "MARKET RISK DYNAMICS AND COMPETITIVENESS AFTER THE EURO: Evidence from EMU Members," William Davidson Institute Working Papers Series wp916, William Davidson Institute at the University of Michigan.
    16. Díaz, Antonio & Escribano, Ana, 2020. "Measuring the multi-faceted dimension of liquidity in financial markets: A literature review," Research in International Business and Finance, Elsevier, vol. 51(C).
    17. Christian Klein & Christoph Stellner, 2014. "The systematic risk of corporate bonds: default risk, term risk, and index choice," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 28(1), pages 29-61, February.
    18. Márcio André Veras Machado & Márcia Reis Machado, 2014. "Liquidity and asset pricing:evidence from the Brazilian market," Brazilian Business Review, Fucape Business School, vol. 11(1), pages 69-89, January.
    19. Nathan Foley-Fisher & Stefan Gissler & Stephane Verani, 2019. "Online Appendix to "Over-the-Counter Market Liquidity and Securities Lending"," Online Appendices 18-283, Review of Economic Dynamics.
    20. Nor Elliany Hawa Ibrahim & Kamarun Nisham Taufil Mohd & Karren Lee-Hwei Khaw, 2019. "Effect of Standardization of Trading Board Lot on Abnormal Liquidity in Malaysian Stock Market," Capital Markets Review, Malaysian Finance Association, vol. 27(2), pages 89-102.
    21. Márcio André Veras Machado & Otávio Ribeiro de Medeiros, 2012. "Does the liquidity effect exist in the brazilian stock market?," Brazilian Business Review, Fucape Business School, vol. 9(4), pages 27-50, October.
    22. Huang, Tzu-Lun, 2018. "The puzzling media effect in the Chinese stock market," Pacific-Basin Finance Journal, Elsevier, vol. 49(C), pages 129-146.
    23. Pietro Alessandrini & Michele Fratianni & Andrew Hughes Hallett & Andrea Presbitero, 2014. "External Imbalances and Fiscal Fragility in the Euro Area," Open Economies Review, Springer, vol. 25(1), pages 3-34, February.
    24. Steve Janner & Daniel Schmidt, 2015. "Are economically significant bond returns explained by corporate news? An examination of the German corporate bond market," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 29(3), pages 271-298, August.
    25. Helwege, Jean & Huang, Jing-Zhi & Wang, Yuan, 2014. "Liquidity effects in corporate bond spreads," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 105-116.
    26. Hadad, Elroi & Kedar-Levy, Haim, 2024. "The impact of retail investor sentiment on the conditional volatility of stocks and bonds: Evidence from the Tel-Aviv stock exchange," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 1303-1313.

  13. Amihud, Yakov & Li, Kefei, 2006. "The Declining Information Content of Dividend Announcements and the Effects of Institutional Holdings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 41(3), pages 637-660, September.

    Cited by:

    1. Andres, C. & Betzer, A. & Goergen, M. & Renneboog, L.D.R., 2008. "The Dividend Policy of German Firms," Other publications TiSEM e7c96e08-3c29-4f98-8719-f, Tilburg University, School of Economics and Management.
    2. Díez-Esteban, José María & Farinha, Jorge Bento & García-Gómez, Conrado Diego, 2016. "The role of institutional investors in propagating the 2007 financial crisis in Southern Europe," Research in International Business and Finance, Elsevier, vol. 38(C), pages 439-454.
    3. Nagendra Marisetty & M. Suresh Babu, 2021. "Dividend Announcements and Market Trends," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(10), pages 139-139, September.
    4. Andriosopoulos, Dimitris & Hoque, Hafiz, 2013. "The determinants of share repurchases in Europe," International Review of Financial Analysis, Elsevier, vol. 27(C), pages 65-76.
    5. Eva Liljeblom & Sabur Mollah & Patrik Rotter, 2015. "Do dividends signal future earnings in the Nordic stock markets?," Review of Quantitative Finance and Accounting, Springer, vol. 44(3), pages 493-511, April.
    6. Hong, Xin & Jordan, Bradford D. & Liu, Mark H., 2015. "Industry information and the 52-week high effect," Pacific-Basin Finance Journal, Elsevier, vol. 32(C), pages 111-130.
    7. Chino, Atsushi, 2016. "Do labor unions affect firm payout policy?: Operating leverage and rent extraction effects," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 156-178.
    8. Kai Li & Xinlei Zhao, 2008. "Asymmetric Information and Dividend Policy," Financial Management, Financial Management Association International, vol. 37(4), pages 673-694, December.
    9. Christos Pantzalis & Jung Chul Park, 2020. "Stock Market Consequences Of Political Vibrancy," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 491-542, August.
    10. Ruijun Zhang & Xiaotong Yang & Nian Li & Muhammad Asif Khan, 2021. "Herd Behavior in Venture Capital Market: Evidence from China," Mathematics, MDPI, vol. 9(13), pages 1-18, June.
    11. Eric Haye, 2015. "Hedge Fund Ownership, Board Composition and Dividend Policy in the Telecommunications Industry," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 6(1), pages 111-118, January.
    12. Maria Elisabete Duante Neves, 2017. "Payout and Firm's Catering," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 104-132.
    13. Andriosopoulos, Dimitris & Lasfer, Meziane, 2015. "The market valuation of share repurchases in Europe," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 327-339.
    14. Yin, Libo & Nie, Jing, 2021. "Adjusted dividend-price ratios and stock return predictability: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 73(C).
    15. Lee, Bong Soo & Mauck, Nathan, 2016. "Dividend initiations, increases and idiosyncratic volatility," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 47-60.
    16. Asem, Ebenezer, 2022. "Are dividend changes exploited in the equity market?," The Quarterly Review of Economics and Finance, Elsevier, vol. 85(C), pages 125-133.
    17. Philipp Geiler & Luc Renneboog, 2016. "Executive Remuneration and the Payout Decision," Post-Print hal-02313314, HAL.
    18. Chune Young Chung & Yunjae Lee & Doojin Ryu, 2017. "Do Domestic Institutional Trades Exacerbate Information Asymmetry? Evidence from the Korean Stock Market," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 24(4), pages 309-322, December.
    19. Choi, Paul Moon Sub & Choi, Joung Hwa & Chung, Chune Young, 2020. "Do individual traders undermine firm valuation?," Finance Research Letters, Elsevier, vol. 36(C).
    20. Oskar Kowalewski & Muhammad Farooq Ahmad & Saqib Aziz & Rwan El-Khatib, 2022. "Firm-Level Political Risk and Dividend Payout," Working Papers 2022-ACF-04, IESEG School of Management.
    21. Kumar, Satish, 2017. "New evidence on stock market reaction to dividend announcements in India," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 327-337.
    22. Díez-Esteban, José María & García-Gómez, Conrado Diego & López-Iturriaga, Félix Javier & Santamaría-Mariscal, Marcos, 2017. "Corporate risk-taking, returns and the nature of major shareholders: Evidence from prospect theory," Research in International Business and Finance, Elsevier, vol. 42(C), pages 900-911.
    23. Fayez A. Elayan & Jingyu Li & Maureen E. Donnelly & Allister W. Young, 2009. "Changes to Income Trust Taxation in Canada: Investor Reaction and Dividend Clientele Theory," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(5‐6), pages 725-753, June.
    24. Max M. Schanzenbach & Robert H. Sitkoff, 2007. "Did Reform of Prudent Trust Investment Laws Change Trust Portfolio Allocation?," Journal of Law and Economics, University of Chicago Press, vol. 50(4), pages 681-711.
    25. Shih-Chuan Tsai, 2014. "Individuals’ Trading Prior to Earnings Announcements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(9-10), pages 1124-1156, November.
    26. Desai, Mihir A. & Jin, Li, 2011. "Institutional tax clienteles and payout policy," Journal of Financial Economics, Elsevier, vol. 100(1), pages 68-84, April.
    27. David Blanco‐Alcántara & Jorge Gallud‐Cano & Félix J. López‐Iturriaga & Óscar López‐de‐Foronda, 2022. "Have European banks maintained their payout policy during the crisis? The role of scrip dividends," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4619-4632, October.
    28. Nejla Ould Daoud Ellili, 2022. "Impact of environmental, social and governance disclosure on dividend policy: What is the role of corporate governance? Evidence from an emerging market," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1396-1413, September.
    29. Xiaoting Wei & Cameron Truong & Viet Do, 2020. "When are dividend increases bad for corporate bonds?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1295-1326, June.
    30. Aabo, Tom & Lee, Suin & Pantzalis, Christos & Park, Jung Chul, 2020. "Know thy neighbor: Political uncertainty and the informational advantage of local institutional investors," Journal of Banking & Finance, Elsevier, vol. 113(C).
    31. Szomko Natalia, 2015. "Investor Reaction to Information on Final Dividend Payouts on the Warsaw Stock Exchange – an Event Study Analysis," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 45(1), pages 127-146, March.
    32. John, Kose & Knyazeva, Anzhela & Knyazeva, Diana, 2015. "Governance and Payout Precommitment," Journal of Corporate Finance, Elsevier, vol. 33(C), pages 101-117.
    33. Linge, Philipp & Theissen, Erik, 2008. "Determinanten der Aktionärspräsenz auf Hauptversammlungen deutscher Aktiengesellschaften," CFR Working Papers 08-05, University of Cologne, Centre for Financial Research (CFR).
    34. Glambosky, Mina & Jory, Surendranath Rakesh & Ngo, Thanh Ngoc, 2020. "The wealth effects of mergers and acquisitions by dividend payers," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 154-165.
    35. Bilal Hafeez & M. Humayun Kabir & Udomsak Wongchoti, 2022. "Are retail investors really passive? Shareholder activism in the digital age," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(3-4), pages 423-460, March.
    36. Ebenezer Asem & Vishaal Baulkaran & Pawan Jain & Mark Sunderman, 2022. "Are institutional investors informed? The case of dividend changes for REITS and Industrial Firms," Review of Quantitative Finance and Accounting, Springer, vol. 58(4), pages 1685-1707, May.
    37. Huang, Tao & Li, Junye, 2019. "Option-Implied variance asymmetry and the cross-section of stock returns," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 21-36.
    38. Smith, Deborah Drummond & Pennathur, Anita K. & Marciniak, Marek R., 2017. "Why do CEOs agree to the discipline of dividends?," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 38-48.
    39. Chung, Chune Young & Wang, Kainan, 2016. "The impact of individual investor trading on information asymmetry in the Korean stock market," The North American Journal of Economics and Finance, Elsevier, vol. 37(C), pages 472-484.
    40. Andres, Christian & Hofbaur, Ulrich, 2017. "Do what you did four quarters ago: Trends and implications of quarterly dividends," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 139-158.
    41. Kilincarslan, Erhan & Ozdemir, Ozgur, 2018. "Institutional investment horizon and dividend policy: An empirical study of UK firms," Finance Research Letters, Elsevier, vol. 24(C), pages 291-300.
    42. Abdul‐Rahman Khokhar & Sudipto Sarkar, 2020. "Market response to dividend change announcements: unregulated versus regulated US firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1759-1799, June.
    43. Dempsey, Stephen J. & Sheng, Hainan, 2023. "Dividend change announcements, ROE, and the cost of equity capital," International Review of Financial Analysis, Elsevier, vol. 86(C).
    44. Allaudeen Hameed & Jing Xie & Yuxiang Zhong, 2024. "Preferences for dividends and stock returns around the world," Working Papers 202405, University of Macau, Faculty of Business Administration.
    45. Scott Walker, 2015. "Repeated Dividend Increases: A Collection of Four Essays," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 2-2015, January-A.
    46. Jara, Mauricio & López-Iturriaga, Félix & San Martín, Pablo & Saona, Paolo & Tenderini, Giannina, 2019. "Chilean pension fund managers and corporate governance: The impact on corporate debt," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 321-337.
    47. Hasan, Mostafa Monzur & Uddin, Mohammad Riaz, 2022. "Do intangibles matter for corporate policies? Evidence from organization capital and corporate payout choices," Journal of Banking & Finance, Elsevier, vol. 135(C).
    48. Christian Andres & André Betzer & Inga van den Bongard & Christian Haesner & Erik Theissen, 2011. "Dividend Announcements Reconsidered - Dividend Changes versus Dividend Surprises," Schumpeter Discussion Papers sdp11013, Universitätsbibliothek Wuppertal, University Library.
    49. Blau, Benjamin M. & Fuller, Kathleen P., 2008. "Flexibility and dividends," Journal of Corporate Finance, Elsevier, vol. 14(2), pages 133-152, April.
    50. Jens Günther, 2017. "Capital market effects around dividend announcements: an analysis of the Berlin stock exchange in 1895," Accounting History Review, Taylor & Francis Journals, vol. 27(3), pages 249-278, September.
    51. Huang, Wei & Paul, Donna L., 2017. "Institutional holdings, investment opportunities and dividend policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 152-161.
    52. Wei Hao & Udomsak Wongchoti & Martin Young & Jianguo Chen, 2021. "R2 and the corporate signaling effect," International Review of Finance, International Review of Finance Ltd., vol. 21(4), pages 1353-1381, December.
    53. Hee-Joon Ahn & Jun Cai & Cheol-Won Yang, 2018. "Which Liquidity Proxy Measures Liquidity Best in Emerging Markets?," Economies, MDPI, vol. 6(4), pages 1-29, December.
    54. Asem, Ebenezer, 2023. "Understanding the price reaction to large dividend increases," Finance Research Letters, Elsevier, vol. 54(C).
    55. Dyussembina, Saule & Park, Kunsu, 2024. "Book-tax differences, dividend payout, and firm value," International Review of Financial Analysis, Elsevier, vol. 91(C).
    56. Frank Gyamfi-Yeboah & Alan Ziobrowski & Lisa Lambert, 2012. "Reits’ Price Reaction to Unexpected FFO Announcements," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 622-644, October.
    57. Esther B. Del Brio & Alberto De Miguel, 2010. "Dividends and Market Signalling: an Analysis of Corporate Insider Trading," European Financial Management, European Financial Management Association, vol. 16(3), pages 480-497, June.
    58. Mao Liang Li & Chin Man Chui & Chang Qing Li, 2014. "Dividend, liquidity and firm valuation: evidence from China AB share markets," Applied Financial Economics, Taylor & Francis Journals, vol. 24(9), pages 587-603, May.
    59. Jensen, Gerald R. & Lundstrum, Leonard L. & Miller, Robert E., 2010. "What do dividend reductions signal?," Journal of Corporate Finance, Elsevier, vol. 16(5), pages 736-747, December.
    60. Syed Qasim Shah & Izlin Ismail & Aidial Rizal bin Shahrin, 2020. "Heterogeneous investors and deterioration of market integrity: an analysis of market manipulation cases," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 30(2), pages 389-403, May.
    61. Angel Zhong, 2022. "Institutional trading in stock market anomalies in Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 893-930, March.
    62. Dhaliwal, Dan & Krull, Linda & Li, Oliver Zhen, 2007. "Did the 2003 Tax Act reduce the cost of equity capital?," Journal of Accounting and Economics, Elsevier, vol. 43(1), pages 121-150, March.
    63. Andres, Christian & Betzer, André & Goergen, Marc & Renneboog, Luc, 2009. "Dividend policy of German firms: A panel data analysis of partial adjustment models," Journal of Empirical Finance, Elsevier, vol. 16(2), pages 175-187, March.
    64. Kellard, Neil M. & Nankervis, John C. & Papadimitriou, Fotios I., 2010. "Predicting the equity premium with dividend ratios: Reconciling the evidence," Journal of Empirical Finance, Elsevier, vol. 17(4), pages 539-551, September.
    65. Jian Cao & Thomas R. Kubick & Adi N. S. Masli, 2017. "Do corporate payouts signal going-concern risk for auditors? Evidence from audit reports for companies in financial distress," Review of Quantitative Finance and Accounting, Springer, vol. 49(3), pages 599-631, October.
    66. Narayan Bulusu, 2020. "Why Do Central Banks Make Public Announcements of Open Market Operations?," Staff Working Papers 20-35, Bank of Canada.
    67. Amin, Abu S. & Dutta, Shantanu & Saadi, Samir & Vora, Premal P., 2015. "Institutional shareholding and information content of dividend surprises: Re-examining the dynamics in dividend-reappearance era," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 152-170.
    68. Bulusu, Narayan, 2024. "Disentangling the supply and announcement effects of open market operations," Journal of Financial Markets, Elsevier, vol. 67(C).
    69. Henry, Darren & Nguyen, Lily & Pham, Viet Hung, 2017. "Institutional trading before dividend reduction announcements," Journal of Financial Markets, Elsevier, vol. 36(C), pages 40-55.
    70. Naheed Rabbani, 2017. "The Announcement Effect of Cash Dividend Changes on Share Prices: Evidence from Dhaka Stock Exchange," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(04), pages 1-19, December.
    71. Ebenezer Asem & Shamsul Alam, 2021. "The abnormal return associated with consecutive dividend increases," The European Journal of Finance, Taylor & Francis Journals, vol. 27(3), pages 222-238, February.

  14. Amihud, Yakov & Hurvich, Clifford M., 2004. "Predictive Regressions: A Reduced-Bias Estimation Method," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(4), pages 813-841, December.
    See citations under working paper version above.
  15. Amihud, Yakov & Wohl, Avi, 2004. "Political news and stock prices: The case of Saddam Hussein contracts," Journal of Banking & Finance, Elsevier, vol. 28(5), pages 1185-1200, May.

    Cited by:

    1. Lee, Geesun, 2024. "The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan," Finance Research Letters, Elsevier, vol. 66(C).
    2. Wisniewski, Tomasz Piotr, 2016. "Is there a link between politics and stock returns? A literature survey," International Review of Financial Analysis, Elsevier, vol. 47(C), pages 15-23.
    3. In Huh & Ju Hyun Pyun, 2018. "Does Nuclear Uncertainty Threaten Financial Markets? The Attention Paid to North Korean Nuclear Threats and Its Impact on South Korea's Financial Markets," Asian Economic Journal, East Asian Economic Association, vol. 32(1), pages 55-82, March.
    4. Charles, Amélie & Darné, Olivier, 2014. "Large shocks in the volatility of the Dow Jones Industrial Average index: 1928–2013," Journal of Banking & Finance, Elsevier, vol. 43(C), pages 188-199.
    5. Marco G.D. Guidi & Alexander Russell & Heather Tarbert, 2006. "The effect of OPEC policy decisions on oil and stock prices," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 30(1), pages 1-18, March.
    6. Imlak Shaikh, 2019. "Behaviors of Stocks and Fear Index from Terrorist Attacks: Empirical Evidence from SENSEX and NVIX," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 18(2), pages 195-219, September.
    7. Iqbal, Kazi & Tsubota, Kenmei & Shonchoy, Abu S & Hoque, Mainul, 2018. "Political instability and stock market returns : evidence from firm-level panel data of securities in Bangladesh," IDE Discussion Papers 712, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    8. Omar, Ayman M.A. & Lambe, Brendan J & Wisniewski, Tomasz Piotr, 2021. "Perceptions of the threat to national security and the stock market," Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 504-522.
    9. Ali M. Kutan & Mehmet E. Yaya, 2016. "Armed conflict and financial and economic risk: evidence from Colombia," Risk Management, Palgrave Macmillan, vol. 18(2), pages 159-187, August.
    10. Asaf Zussman & Noam Zussman & Morten Ørregaard Nielsen, 2008. "Asset Market Perspectives on the Israeli–Palestinian Conflict," Economica, London School of Economics and Political Science, vol. 75(297), pages 84-115, February.
    11. Nguyen, Hoang & Virbickaite, Audrone, 2022. "Modeling stock-oil co-dependence with Dynamic Stochastic MIDAS Copula models," Working Papers 2022:5, Örebro University, School of Business.
    12. Christos Kollias & Stephanos Papadamou, 2012. "Rogue State Behavior and Markets: The Financial Fallout of North Korean Nuclear Tests," Economics of Security Working Paper Series 67, DIW Berlin, German Institute for Economic Research.
    13. Deari Fitim & Koku Paul Sergius, 2024. "Do Local Political Elections Affect Daily Stock Returns? Evidence from the Republic of North Macedonia's MBI10 Index," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 34(1), pages 98-116, March.
    14. Kollias, Christos & Papadamou, Stephanos & Stagiannis, Apostolos, 2011. "Terrorism and capital markets: The effects of the Madrid and London bomb attacks," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 532-541, October.
    15. Paulo Vitor Souza de SOUZA & César Augusto Tibúrcio SILVA, 2021. "Economic policy uncertainty and adaptability in international capital markets," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(626), S), pages 85-100, Spring.
    16. Grzegorz Zimon, 2023. "Prospects for the Development of Transport in Poland during the Energy Crisis," International Journal of Energy Economics and Policy, Econjournals, vol. 13(3), pages 56-60, May.
    17. Berkman, Henk & Jacobsen, Ben & Lee, John B., 2011. "Time-varying rare disaster risk and stock returns," Journal of Financial Economics, Elsevier, vol. 101(2), pages 313-332, August.
    18. Fatma Ben Moussa & Mariem Talbi, 2019. "Stock Market Reaction to Terrorist Attacks and Political Uncertainty: Empirical Evidence from the Tunisian Stock Exchange," International Journal of Economics and Financial Issues, Econjournals, vol. 9(3), pages 48-64.
    19. Manuel Hoffmann & Matthias Neuenkirch, 2017. "The pro-Russian conflict and its impact on stock returns in Russia and the Ukraine," International Economics and Economic Policy, Springer, vol. 14(1), pages 61-73, January.
    20. Rigobon, Roberto & Sack, Brian P., 2003. "The Effects of War Risk on U.S. Financial Markets," Working papers 4417-03, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    21. Justin Wolfers & Eric Zitzewitz, 2009. "Using Markets to Inform Policy: The Case of the Iraq War," Economica, London School of Economics and Political Science, vol. 76(302), pages 225-250, April.
    22. Chen, Carl R. & Li, Yingqi & Luo, Danglun & Zhang, Ting, 2017. "Helping hands or grabbing hands? An analysis of political connections and firm value," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 71-89.
    23. Kollias, Christos & Manou, Efthalia & Papadamou, Stephanos & Stagiannis, Apostolos, 2011. "Stock markets and terrorist attacks: Comparative evidence from a large and a small capitalization market," European Journal of Political Economy, Elsevier, vol. 27(S1), pages 64-77.
    24. Hanedar, Avni Önder & Hanedar, Elmas Yaldız, 2017. "Ottoman stock returns during the Turco-Italian and Balkan Wars of 1910-1914," eabh Papers 17-02, The European Association for Banking and Financial History (EABH).
    25. Athanassiou, Emmanuel & Kollias, Christos & Syriopoulos, Theodore, 2006. "Dynamic volatility and external security related shocks: The case of the Athens Stock Exchange," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 16(5), pages 411-424, December.
    26. Xie, Qichang & Wu, Haifeng & Ma, Yu, 2021. "Refining the asymctmetric impacts of oil price uncertainty on Chinese stock returns based on a semiparametric additive quantile regression analysis," Energy Economics, Elsevier, vol. 102(C).
    27. Felipe Bastos G. Silva & Ekaterina Volkova, 2018. "Can VPIN forecast geopolitical events? Evidence from the 2014 Crimean Crisis," Annals of Finance, Springer, vol. 14(1), pages 125-141, February.
    28. Ofir D. Rubin & Rico Ihle, 2017. "Measuring Temporal Dimensions of the Intensity of Violent Political Conflict," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 132(2), pages 621-642, June.
    29. Hanedar, Avni Önder & Yaldız Hanedar, Elmas, 2017. "Stock market reactions to wars and political risks: A cliometric perspective for a falling empire," MPRA Paper 85600, University Library of Munich, Germany, revised 25 Mar 2018.
    30. Choi, Sangyup & Havel, Jiri, 2025. "Geopolitical risk and U.S. foreign portfolio investment: A tale of advanced and emerging markets," Journal of International Money and Finance, Elsevier, vol. 151(C).
    31. Frijns, Bart & Tourani-Rad, Alireza & Indriawan, Ivan, 2012. "Political crises and the stock market integration of emerging markets," Journal of Banking & Finance, Elsevier, vol. 36(3), pages 644-653.
    32. He, Yinghua & Nielsson, Ulf & Wang, Yonglei, 2014. "Hurting without Hitting: The Economic Cost of Political Tension," TSE Working Papers 14-484, Toulouse School of Economics (TSE), revised Jul 2015.
    33. Omar, Ayman M.A. & Wisniewski, Tomasz Piotr & Nolte, Sandra, 2017. "Diversifying away the risk of war and cross-border political crisis," Energy Economics, Elsevier, vol. 64(C), pages 494-510.
    34. Nandha, Mohan & Hammoudeh, Shawkat, 2007. "Systematic risk, and oil price and exchange rate sensitivities in Asia-Pacific stock markets," Research in International Business and Finance, Elsevier, vol. 21(2), pages 326-341, June.
    35. Mojanoski Goran & Bucevska Vesna, 2022. "Event study on the reaction of the Balkan stock markets to the conflict between Russia and Ukraine," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 8(2), pages 18-27, December.
    36. Baur, Dirk G. & Smales, Lee A., 2020. "Hedging geopolitical risk with precious metals," Journal of Banking & Finance, Elsevier, vol. 117(C).
    37. Kollias, Christos & Kyrtsou, Catherine & Papadamou, Stephanos, 2013. "The effects of terrorism and war on the oil price–stock index relationship," Energy Economics, Elsevier, vol. 40(C), pages 743-752.
    38. Ali, Syed Riaz Mahmood & Anik, Kaysul Islam & Hasan, Mohammad Nurul & Kamal, Md Rajib, 2023. "Geopolitical threats, equity returns, and optimal hedging," International Review of Financial Analysis, Elsevier, vol. 90(C).
    39. Izzeldin, Marwan & Muradoğlu, Yaz Gülnur & Pappas, Vasileios & Petropoulou, Athina & Sivaprasad, Sheeja, 2023. "The impact of the Russian-Ukrainian war on global financial markets," International Review of Financial Analysis, Elsevier, vol. 87(C).
    40. Mnasri, Ayman & Nechi, Salem, 2016. "Impact of terrorist attacks on stock market volatility in emerging markets," Emerging Markets Review, Elsevier, vol. 28(C), pages 184-202.
    41. Gerlach, Jeffrey R. & Yook, Youngsuk, 2016. "Political conflict and foreign portfolio investment: Evidence from North Korean attacks," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 178-196.
    42. Rubin, Ofir D. & Ihle, Rico & Kachel, Yael & Goodwin, Barry K., 2013. "The impact of violent political conflict on commodity prices: The Israeli food market," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150961, Agricultural and Applied Economics Association.
    43. Lerby Ergun, 2019. "Extreme Downside Risk in Asset Returns," Staff Working Papers 19-46, Bank of Canada.
    44. Narayan, Paresh Kumar & Narayan, Seema & Phan, Dinh Hoang Bach, 2022. "Terrorism and international stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 76(C).
    45. Zhou, Mei-Jing & Huang, Jian-Bai & Chen, Jin-Yu, 2020. "The effects of geopolitical risks on the stock dynamics of China's rare metals: A TVP-VAR analysis," Resources Policy, Elsevier, vol. 68(C).
    46. Amelie Brune & Thorsten Hens & Marc Rieger & Mei Wang, 2015. "The war puzzle: contradictory effects of international conflicts on stock markets," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 62(1), pages 1-21, March.
    47. Jeffrey R. Gerlach & Youngsuk Yook, 2016. "Political Conflict and Foreign Portfolio Investment : Evidence from North Korean Attacks," Finance and Economics Discussion Series 2016-037, Board of Governors of the Federal Reserve System (U.S.).
    48. Ergun, Lerby M., 2016. "Disaster and fortune risk in asset returns," LSE Research Online Documents on Economics 66194, London School of Economics and Political Science, LSE Library.
    49. Tee, Chwee-Ming & Wong, Wai-Yan & Hooy, Chee-Wooi, 2023. "Financial sanctions and global stock market reaction: Evidence from the Russia-Ukraine conflict," Finance Research Letters, Elsevier, vol. 58(PB).

  16. Amihud, Yakov & Hauser, Shmuel & Kirsh, Amir, 2003. "Allocations, adverse selection, and cascades in IPOs: Evidence from the Tel Aviv Stock Exchange," Journal of Financial Economics, Elsevier, vol. 68(1), pages 137-158, April.

    Cited by:

    1. Klova, Valeriia, 2017. "IPO underpricing: What about the shipping sector?," Journal of Multinational Financial Management, Elsevier, vol. 42, pages 95-115.
    2. Yu, Ting & Tse, Y.K., 2006. "An empirical examination of IPO underpricing in the Chinese A-share market," China Economic Review, Elsevier, vol. 17(4), pages 363-382.
    3. Svetlana BILOOCAIA, 2011. "Analysis of the Issuers’ Main Risks during the IPO," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 378-383.
    4. Sherman, Ann E., 2005. "Global trends in IPO methods: Book building versus auctions with endogenous entry," Journal of Financial Economics, Elsevier, vol. 78(3), pages 615-649, December.
    5. Kao, Lanfeng & Chen, Anlin & Krishnamurti, Chandrasekhar, 2020. "Outcome model or substitute model of D&O insurance on IPO pricing without information asymmetry before issuance," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
    6. Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," NBER Working Papers 8805, National Bureau of Economic Research, Inc.
    7. Marco Rummer & Andreas Oehler & Peter N. Smith, 2004. "IPO Pricing and the Relative Importance of Investor Sentiment: Evidence from Germany," Money Macro and Finance (MMF) Research Group Conference 2004 62, Money Macro and Finance Research Group.
    8. Leite, Tore, 2007. "Adverse selection, public information, and underpricing in IPOs," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 813-828, December.
    9. Rekha Handa & Balwinder Singh, 2017. "Performance of Indian IPOs: An Empirical Analysis," Global Business Review, International Management Institute, vol. 18(3), pages 734-749, June.
    10. Defeng Yang & Zhanqing Wang & Fangmin Lu, 2019. "The Influence of Corporate Governance and Operating Characteristics on Corporate Environmental Investment: Evidence from China," Sustainability, MDPI, vol. 11(10), pages 1-18, May.
    11. Rocholl, Jrg, 2009. "A friend in need is a friend indeed: Allocation and demand in IPO bookbuilding," Journal of Financial Intermediation, Elsevier, vol. 18(2), pages 284-310, April.
    12. Saengchote, Kanis & Sthienchoak, Jananya, 2020. "Strategic participation in IPOs by affiliated mutual funds: Thai evidence," Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
    13. Neupane, Suman & Poshakwale, Sunil S., 2012. "Transparency in IPO mechanism: Retail investors’ participation, IPO pricing and returns," Journal of Banking & Finance, Elsevier, vol. 36(7), pages 2064-2076.
    14. Füllbrunn, Sascha & Neugebauer, Tibor & Nicklisch, Andreas, 2014. "Underpricing of Initial Public Offerings in Experimental Asset Markets," WiSo-HH Working Paper Series 19, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    15. Su, Dongwei, 2004. "Leverage, insider ownership, and the underpricing of IPOs in China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 14(1), pages 37-54, February.
    16. Kao, Lanfeng & Chen, Anlin, 2020. "How a pre-IPO audit committee improves IPO pricing efficiency in an economy with little value uncertainty and information asymmetry," Journal of Banking & Finance, Elsevier, vol. 110(C).
    17. Meoli, Michele & Vismara, Silvio, 2021. "Information manipulation in equity crowdfunding markets," Journal of Corporate Finance, Elsevier, vol. 67(C).
    18. McGuinness, Paul B., 2014. "IPO firm value and its connection with cornerstone and wider signalling effects," Pacific-Basin Finance Journal, Elsevier, vol. 27(C), pages 138-162.
    19. Pešterac Aleksandra, 2020. "The Importance of Initial Public Offering for Capital Market Development in Developing Countries," Economic Themes, Sciendo, vol. 58(1), pages 97-115, March.
    20. Leite, Tore, 2004. "Excess initial returns in IPOs," Journal of Financial Intermediation, Elsevier, vol. 13(3), pages 359-377, July.
    21. Shen, Zhe & Coakley, Jerry & Instefjord, Norvald, 2013. "Investor participation and underpricing in lottery-allocated Chinese IPOs," Pacific-Basin Finance Journal, Elsevier, vol. 25(C), pages 294-314.
    22. Jerry W. Chen & In-Mu Haw & Jianfu Shen & Pauline W. Wong, 2020. "The economic benefits of returned-global Chinese IPOs," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1207-1239, November.
    23. Anderson, Mike, 2017. "A causal link between bond liquidity and stock returns," Journal of Empirical Finance, Elsevier, vol. 44(C), pages 190-208.
    24. Wang, Zhiqiang & Su, Bingbai & Coakley, Jerry & Shen, Zhe, 2018. "Prospect theory and IPO returns in China," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 726-751.
    25. Randall Morck, 2009. "Generalized Agency Problems," NBER Working Papers 15051, National Bureau of Economic Research, Inc.
    26. Kanis Saengchote & Jananya Sthienchoak, 2020. "Mutual Fund Participation in IPOs: Thai Evidence," PIER Discussion Papers 131, Puey Ungphakorn Institute for Economic Research.
    27. Mazouz, Khelifa & Mohamed, Abdulkadir & Saadouni, Brahim & Yin, Shuxing, 2017. "Underwriters' allocation with and without discretionary power: Evidence from the Hong Kong IPO market," International Review of Financial Analysis, Elsevier, vol. 49(C), pages 128-137.
    28. Kao, Lanfeng & Chen, Anlin & Lu, Cheng-Shou, 2022. "Retail investor attention and IPO prices with a pre-IPO market," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 416-432.
    29. Boreiko, Dmitri & Lombardo, Stefano, 2011. "Italian IPOs: Allocations and claw back clauses," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(1), pages 127-143, February.
    30. Pons-Sanz, Vicente, 2005. "Who benefits from IPO underpricing? Evidence form hybrid bookbuilding offerings," Working Paper Series 428, European Central Bank.
    31. Kao, Lanfeng & Chen, Anlin, 2019. "Partial adjustment of hybrid book-building IPOs with a pre-IPO market," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 292-300.
    32. Ravi Jagannathan & Ann E. Sherman, 2006. "Why Do IPO Auctions Fail?," NBER Working Papers 12151, National Bureau of Economic Research, Inc.
    33. Rafa³ Cieslik, 2016. "“Earnings Management” as a Factor for Underpricing Initial Public Offerings: Evidence from the Warsaw Stock Exchange (“Kreowanie wynikow” jako czynnik niedowartosciowania ceny akcji spolek IPO na przy," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 14(63), pages 103-112.
    34. Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2021. "Information Cascades and Social Learning," NBER Working Papers 28887, National Bureau of Economic Research, Inc.
    35. Iftekhar Hasan & Maya Waisman, 2012. "Foreign IPOs: The Experience of Israeli Firms," Chapters, in: Kern Alexander & Rahul Dhumale (ed.), Research Handbook on International Financial Regulation, chapter 17, Edward Elgar Publishing.
    36. Aharon Cohen Mohliver & Gitit Gur-Gershgorn & Shinjinee Chattopadhyay, 2013. "IPO pricing and ownership structure: the business-group effect," Chapters, in: Mario Levis & Silvio Vismara (ed.), Handbook of Research on IPOs, chapter 16, pages 327-344, Edward Elgar Publishing.
    37. Leite, Tore, 2006. "Bookbuilding with heterogeneous investors," Journal of Financial Intermediation, Elsevier, vol. 15(2), pages 235-253, April.
    38. Gajewski, Jean-François & Gresse, Carole, 2006. "A Survey of the European IPO Market," ECMI Papers 1207, Centre for European Policy Studies.
    39. Danny Yeung, 2012. "The Impact of Institutional Ownership: A Study of the Australian Equity Market," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 2-2012, January-A.
    40. Simon Gao & Tony Chieh-Tse Hou, 2019. "An Empirical Examination of IPO Underpricing Between High-technology and Non-high-technology Firms in Taiwan," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(1), pages 23-51, April.
    41. Güçbilmez, Ufuk & Ó Briain, Tomás, 2021. "Bidding styles of institutional investors in IPO auctions," Journal of Financial Markets, Elsevier, vol. 53(C).
    42. Petkevich, Alex & Samdani, Taufique, 2022. "The equilibrium prices of auction IPO securities: Empirical evidence," Journal of Financial Markets, Elsevier, vol. 57(C).
    43. Silvio Vismara, 2018. "Information Cascades among Investors in Equity Crowdfunding," Entrepreneurship Theory and Practice, , vol. 42(3), pages 467-497, May.
    44. Hauser, Shmuel & Yaari, Uzi & Tanchuma, Yael & Baker, Harold, 2006. "Initial Public Offering Discount and Competition," Journal of Law and Economics, University of Chicago Press, vol. 49(1), pages 331-351, April.
    45. Wang, Chao-Shi & Tang, Hui-Wen & Chen, Roger C.Y., 2017. "Does IPO subscription demand affect investor herd behavior in Taiwan?," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 258-272.
    46. Sheena Chhabra & Ravi Kiran, 2022. "Impact of information on winners' curse and long run performance of initial public offerings," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 975-992, January.
    47. Schuster, Josef Anton, 2003. "The cross-section of European IPO returns," LSE Research Online Documents on Economics 24859, London School of Economics and Political Science, LSE Library.
    48. Jagannathan, Ravi & Jirnyi, Andrei & Sherman, Ann Guenther, 2015. "Share auctions of initial public offerings: Global evidence," Journal of Financial Intermediation, Elsevier, vol. 24(3), pages 283-311.
    49. Chun Zhou & Wenyu Zhou & Jiajun Lu, 2021. "The Short-Term Impacts of the Registration-Based IPO Reform in China: Towards a More Sustainable Equity Market," Sustainability, MDPI, vol. 13(20), pages 1-17, October.
    50. Bhattacharya, Arnab, 2017. "Innovations in new venture financing: Evidence from Indian SME IPOs," Global Finance Journal, Elsevier, vol. 34(C), pages 72-88.
    51. Hoque, Hafiz & Mu, Shaolong, 2023. "Information spillover in Chinese hybrid IPO auctions," Journal of International Money and Finance, Elsevier, vol. 131(C).
    52. Jay R. Ritter, 2003. "Differences between European and American IPO Markets," European Financial Management, European Financial Management Association, vol. 9(4), pages 421-434, December.
    53. He, Jingbin & Ma, Xinru & Liao, Jingchi, 2021. "Preference for bid time in hybrid auctioned IPOs: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    54. Anna P. I. Vong & Duarte Trigueiros, 2017. "Evidence on the effect of ‘Claw-Back’ provisions on IPO share allocation and underpricing in Hong Kong," Applied Economics, Taylor & Francis Journals, vol. 49(51), pages 5231-5244, November.
    55. Lin, Ji-Chai & Lee, Yi-Tsung & Liu, Yu-Jane, 2007. "IPO auctions and private information," Journal of Banking & Finance, Elsevier, vol. 31(5), pages 1483-1500, May.

  17. Amihud, Yakov & Lauterbach, Beni & Mendelson, Haim, 2003. "The Value of Trading Consolidation: Evidence from the Exercise of Warrants," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(4), pages 829-846, December.

    Cited by:

    1. Emiliano Pagnotta & Thomas Philippon, 2011. "Competing on Speed," NBER Working Papers 17652, National Bureau of Economic Research, Inc.
    2. Dirk Schiereck & Christian Voigt, 2010. "With or without you: market quality of floor trading when screen trading closes early," Review of Quantitative Finance and Accounting, Springer, vol. 34(2), pages 179-197, February.
    3. O'Hara, Maureen & Ye, Mao, 2011. "Is market fragmentation harming market quality?," Journal of Financial Economics, Elsevier, vol. 100(3), pages 459-474, June.
    4. Suchismita Mishra & Le Zhao, 2021. "Order Routing Decisions for a Fragmented Market: A Review," JRFM, MDPI, vol. 14(11), pages 1-32, November.
    5. Bernales, Alejandro & Garrido, Nicolás & Sagade, Satchit & Valenzuela, Marcela & Westheide, Christian, 2020. "Trader Competition in Fragmented Markets: Liquidity Supply versus Picking-off Risk," SAFE Working Paper Series 234, Leibniz Institute for Financial Research SAFE, revised 2020.
    6. Haoyang Liu & Zhaogang Song & James Vickery, 2021. "Defragmenting Markets: Evidence from Agency MBS," Staff Reports 965, Federal Reserve Bank of New York.
    7. Markus Baldauf & Joshua Mollner, 2015. "Trading in Fragmented Markets," Discussion Papers 15-018, Stanford Institute for Economic Policy Research.
    8. Fariz Huseynov, 2010. "Review of CIS Stock Markets: Future Perspectives," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(1), pages 63-79, May.
    9. Pierre-Cyrille Hautcoeur & Amir Rezaee & Angelo Riva, 2018. "Competition among Securities Markets," Working Papers halshs-01863942, HAL.
    10. Pierre-Cyrille Hautcoeur & Amir Rezaee & Angelo Riva, 2023. "Competition between securities markets: stock exchange industry regulation in the Paris financial center at the turn of the twentieth century," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 17(2), pages 261-299, May.
    11. Bernales, Alejandro & Ladley, Daniel & Litos, Evangelos & Valenzuela, Marcela, 2021. "Dark trading and alternative execution priority rules," LSE Research Online Documents on Economics 118866, London School of Economics and Political Science, LSE Library.
    12. Nguyen, Vanthuan & Phengpis, Chanwit, 2009. "An analysis of the opening mechanisms of Exchange Traded Fund markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(2), pages 562-577, May.
    13. Corey Garriott & Anna Pomeranets & Joshua Slive & Thomas Thorn, 2013. "Fragmentation in Canadian Equity Markets," Bank of Canada Review, Bank of Canada, vol. 2013(Autumn), pages 20-29.
    14. Lawrence Kryzanowski & Skander Lazrak, 2011. "Informed traders of cross-listed shares trade more in the domestic market around earnings releases," Review of Quantitative Finance and Accounting, Springer, vol. 36(1), pages 1-31, January.
    15. Mark Lang & Karl V. Lins & Mark Maffett, 2012. "Transparency, Liquidity, and Valuation: International Evidence on When Transparency Matters Most," Journal of Accounting Research, Wiley Blackwell, vol. 50(3), pages 729-774, June.
    16. Chang, Kai & Chen, Rongda & Chevallier, Julien, 2018. "Market fragmentation, liquidity measures and improvement perspectives from China's emissions trading scheme pilots," Energy Economics, Elsevier, vol. 75(C), pages 249-260.
    17. Yakov Amihud & Haim Mendelson, 2006. "Stock and Bond Liquidity and its Effect on Prices and Financial Policies," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 20(1), pages 19-32, April.
    18. James S. Ang & Kenneth J. Hunsader & Shaojun Zhang, 2019. "Order dynamics during the flash crash," Journal of Asset Management, Palgrave Macmillan, vol. 20(5), pages 365-383, September.
    19. Bennett, Paul & Wei, Li, 2006. "Market structure, fragmentation, and market quality," Journal of Financial Markets, Elsevier, vol. 9(1), pages 49-78, February.
    20. Henke, Harald & Lauterbach, Beni, 2005. "Firm-initiated and exchange-initiated transfers to continuous trading: Evidence from the Warsaw Stock Exchange," Journal of Financial Markets, Elsevier, vol. 8(3), pages 309-323, August.
    21. Anna Pomeranets & Daniel G. Weaver, 2024. "Forced consolidation," Review of Quantitative Finance and Accounting, Springer, vol. 62(2), pages 579-601, February.
    22. Ende, Bartholomäus & Lutat, Marco, 2010. "Trade-throughs in European cross-traded equities after transaction costs: Empirical evidence for the EURO STOXX 50," CFS Working Paper Series 2010/15, Center for Financial Studies (CFS).
    23. Kohler, Alexander & von Wyss, Rico, 2012. "Fragmentation in European Equity Markets and Market Quality – Evidence from the Analysis of Trade-Throughs," Working Papers on Finance 1210, University of St. Gallen, School of Finance.

  18. Amihud, Yakov & DeLong, Gayle L. & Saunders, Anthony, 2002. "The effects of cross-border bank mergers on bank risk and value," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 857-877, November.

    Cited by:

    1. Pietro Alessandrini & Andrea Filippo Presbitero & Alberto Zazzaro, 2008. "Bank Size or Distance: What Hampers Innovation Adoption by SMEs?," Mo.Fi.R. Working Papers 2, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    2. Bertay, Ata Can & Demirguc-Kunt Asli & Huizinga, Harry, 2012. "Is the financial safety net a barrier to cross-border banking ?," Policy Research Working Paper Series 5947, The World Bank.
    3. Ullah, Nazim & Mat Nor, Fauzias & Abu Seman, Junaidah & Ainna Binti Ramli, Nur & FADLY, AHMED, 2023. "Mergers and Acquisitions in Islamic Banking Sector: An Empirical Analysis on Size Effect, Market Structure, and Operational," MPRA Paper 118681, University Library of Munich, Germany.
    4. Zhu, Wenyu & Yang, Jiawen, 2016. "State ownership, cross-border acquisition, and risk-taking: Evidence from China’s banking industry," Journal of Banking & Finance, Elsevier, vol. 71(C), pages 133-153.
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    3046. Mejda Bahlous, 2013. "Does Cross-Listing Benefit the Shareholders? Evidence from Companies in the GCC Countries?," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 20(4), pages 345-381, November.
    3047. Chae, Joon & Kim, Ryumi, 2020. "Contrarian profits of the firm-specific component on stock returns," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
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    Cited by:

    1. Ahmed, Ammad & Ali, Searat, 2017. "Boardroom gender diversity and stock liquidity: Evidence from Australia," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(2), pages 148-165.
    2. Nandkumar Nayar & Ajai K. Singh & Allan A. Zebedee, 2008. "Share Repurchase Offers and Liquidity: An Examination of Temporary and Permanent Effects," Financial Management, Financial Management Association International, vol. 37(2), pages 251-270, June.
    3. Réal Labelle & Alain Schatt, 2005. "Structure de propriété et communication financière des entreprises françaises," Post-Print halshs-00008421, HAL.
    4. Carol Ann Frost & Elizabeth A. Gordon & Andrew F. Hayes, 2006. "Stock Exchange Disclosure and Market Development: An Analysis of 50 International Exchanges," Journal of Accounting Research, Wiley Blackwell, vol. 44(3), pages 437-483, June.
    5. George D. Cashman & David M. Harrison & Michael J. Seiler & Hainan Sheng, 2019. "The Impact of Geographic and Cultural Dispersion on Information Opacity," The Journal of Real Estate Finance and Economics, Springer, vol. 59(2), pages 166-208, August.
    6. Erik Devos & Seow Ong & Andrew Spieler, 2007. "Analyst Activity and Firm Value: Evidence from the REIT Sector," The Journal of Real Estate Finance and Economics, Springer, vol. 35(3), pages 333-356, October.
    7. Raymond A. Ezejiofor & Nwakoby, Nkiru Peace & Okoye, F. N. Jane, 2016. "Impact Of Forensic Accounting On Combating Fraud In Nigerian Banking Industry," International Journal of Academic Research in Management and Business, International Journal of Academic Research in Management and Business, vol. 1(2), pages 1-19, September.
    8. Stereńczak Szymon & Kubiak Jarosław, 2023. "The choice of external financing source: The role of company size and stock liquidity," Economics and Business Review, Sciendo, vol. 9(3), pages 44-65, October.
    9. Suman Banerjee & Saul Estrin & Sarmistha Pal, 2022. "Corporate disclosure, compliance and consequences: evidence from Russia," The European Journal of Finance, Taylor & Francis Journals, vol. 28(17), pages 1770-1802, November.
    10. Omaima Hassan & Claire Marston, 2010. "Disclosure measurement in the empirical accounting literature - a review article," Accountancy Discussion Papers 1004, Accountancy Research Group, Heriot Watt University.
    11. Hongrui Feng & Shu Yan, 2019. "CEO incentive compensation and stock liquidity," Review of Quantitative Finance and Accounting, Springer, vol. 53(4), pages 1069-1098, November.
    12. Koirala, Santosh & Marshall, Andrew & Neupane, Suman & Thapa, Chandra, 2020. "Corporate governance reform and risk-taking: Evidence from a quasi-natural experiment in an emerging market," Journal of Corporate Finance, Elsevier, vol. 61(C).
    13. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).
    14. Justyna Franc-Dąbrowska & Magdalena Mądra-Sawicka & Anna Milewska, 2021. "Energy Sector Risk and Cost of Capital Assessment—Companies and Investors Perspective," Energies, MDPI, vol. 14(6), pages 1-20, March.
    15. Raymond A. Ezejiofor & Nkiru Peace Nwakoby & Jane F. N. Okoye,, 2016. "Impact Of Forensic Accounting On Combating Fraud In Nigerian Banking Industry," Post-Print halshs-01359758, HAL.
    16. Laíse Ferraz Correia & Hudson Fernandes Amaral, 2014. "Determinants of Market Liquidity of Shares Traded on the BM&FBOVESPA," Brazilian Business Review, Fucape Business School, vol. 11(6), pages 75-97, December.
    17. Ian Domowitz, 2002. "Liquidity, Transaction Costs, and Reintermediation in Electronic Markets," Journal of Financial Services Research, Springer;Western Finance Association, vol. 22(1), pages 141-157, August.
    18. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "Liquidity and firm value in an emerging market: Nonlinearity, political connections and corporate ownership," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    19. Camilleri, Silvio John & Galea, Francelle, 2019. "The Determinants of Securities Trading Activity: Evidence from four European Equity Markets," MPRA Paper 95298, University Library of Munich, Germany.
    20. Ricardo Luiz Menezes da Silva & Paula Carolina Ciampaglia Nardi & Vinicius Aversari Martins & Milton Barossi-Filho, 2014. "Factors Affecting Stock Liquidity: Corporate Governance, ADRs and Economic Crisis," Brazilian Business Review, Fucape Business School, vol. 11(1), pages 1-24, January.
    21. Irvine, Paul J., 2003. "The incremental impact of analyst initiation of coverage," Journal of Corporate Finance, Elsevier, vol. 9(4), pages 431-451, September.
    22. Stephen Dempsey & David Harrison & Kimberly Luchtenberg & Michael Seiler, 2012. "Financial Opacity and Firm Performance: The Readability of REIT Annual Reports," The Journal of Real Estate Finance and Economics, Springer, vol. 45(2), pages 450-470, August.
    23. Bacidore, Jeffrey M. & Battalio, Robert & Galpin, Neal & Jennings, Robert, 2005. "Sources of liquidity for NYSE-listed non-US stocks," Journal of Banking & Finance, Elsevier, vol. 29(12), pages 3075-3098, December.
    24. Gore, Angela K & Sachs, Kevin & Trzcinka, Charles, 2004. "Financial Disclosure and Bond Insurance," Journal of Law and Economics, University of Chicago Press, vol. 47(1), pages 275-306, April.
    25. Foo, Yee-Boon & Zain, Mazlina Mat, 2010. "Board independence, board diligence and liquidity in Malaysia: A research note," Journal of Contemporary Accounting and Economics, Elsevier, vol. 6(2), pages 92-100.
    26. Loderer, Claudio & Roth, Lukas, 2005. "The pricing discount for limited liquidity: evidence from SWX Swiss Exchange and the Nasdaq," Journal of Empirical Finance, Elsevier, vol. 12(2), pages 239-268, March.
    27. Huang, Ying & Jacoby, Gady & Jiang, Christine X., 2016. "The bonding hypothesis and the home market liquidity of Chinese cross-listed stocks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 43(C), pages 146-157.
    28. Qin Zhang & Jin Boon Wong, 2023. "The influence of oil price uncertainty on stock liquidity," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 43(2), pages 141-167, February.
    29. Madhusmita Bhadra & Doyeon Kim, 2023. "Income elasticity of demand and stock market beta," International Finance, Wiley Blackwell, vol. 26(2), pages 225-240, August.
    30. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "More shareholders, higher liquidity? Evidence from an emerging stock market," Emerging Markets Review, Elsevier, vol. 44(C).
    31. Houdou Basse Mama, 2017. "The interaction between stock prices and corporate investment: is Europe different?," Review of Managerial Science, Springer, vol. 11(2), pages 315-351, March.
    32. Hassan, Omaima A.G. & Romilly, Peter & Giorgioni, Gianluigi & Power, David, 2009. "The value relevance of disclosure: Evidence from the emerging capital market of Egypt," The International Journal of Accounting, Elsevier, vol. 44(1), pages 79-102, March.
    33. Qin Zhang & Jin Boon Wong, 2022. "Do oil shocks impact stock liquidity?," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(3), pages 472-491, March.
    34. Liliam Sanchez Carrete & Vitor Corona & Rosana Tavares, 2016. "Impact of Number of Security Analysts in Liquidity of Brazilian Stocks," International Business Research, Canadian Center of Science and Education, vol. 9(11), pages 105-115, November.
    35. Nimalendran, M. & Petrella, Giovanni, 2003. "Do 'thinly-traded' stocks benefit from specialist intervention?," Journal of Banking & Finance, Elsevier, vol. 27(9), pages 1823-1854, September.
    36. Liu, Hao & Zhang, Hao & Gao, Ya-Chun & Chen, Xu-Dong, 2022. "Firm age and beta: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 244-261.
    37. Prodromou, Tina & Demirer, Riza, 2022. "Oil price shocks and cost of capital: Does market liquidity play a role?," Energy Economics, Elsevier, vol. 115(C).
    38. Chincarini, Ludwig B. & Kim, Daehwan & Moneta, Fabio, 2020. "Beta and firm age," Journal of Empirical Finance, Elsevier, vol. 58(C), pages 50-74.
    39. Zadeh, Mohammad Hendijani, 2023. "Stock liquidity and societal trust," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    40. Réal Labelle & Alain Schatt, 2005. "Structure de propriété et communication financière des entreprises françaises;Ownership Structure and Corporate Disclosures:The French Case," Working Papers CREGO 1050701, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.

  21. Yakov Amihud & Kenneth Garbade & Marcel Kahan, 2000. "An Institutional Innovation To Reduce The Agency Costs Of Public Corporate Bonds," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(1), pages 114-121, March.

    Cited by:

    1. Flavio Bazzana & Luigi Mittone & Luciano Andreozzi, 2015. "The Freeze-out Bond Exchange Offer: An Experimental Approach," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 16(2), pages 150-162, April.
    2. International Association of Deposit Insurers, 2011. "Evaluation of Deposit Insurance Fund Sufficiency on the Basis of Risk Analysis," IADI Research Papers 11-11, International Association of Deposit Insurers.
    3. Flavio Bazzana & Marco Palmieri, 2012. "How to increase the efficiency of bond covenants: a proposal for the Italian corporate market," European Journal of Law and Economics, Springer, vol. 34(2), pages 327-346, October.
    4. García-Céspedes, Rubén & Moreno, Manuel, 2014. "Estimating the distribution of total default losses on the Spanish financial system," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 242-261.
    5. Jakub Seidler, 2008. "Implied Market Loss Given Default: structural-model approach," Working Papers IES 2008/26, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2008.
    6. Solomon Y. Deku & Alper Kara & David Marques‐Ibanez, 2019. "Trustee reputation in securitization: When does it matter?," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 28(2), pages 61-84, May.
    7. Grunert, Jens & Weber, Martin, 2009. "Recovery rates of commercial lending: Empirical evidence for German companies," Journal of Banking & Finance, Elsevier, vol. 33(3), pages 505-513, March.

  22. Yakov Amihud & Baruch Lev, 1999. "Does corporate ownership structure affect its strategy towards diversification?," Strategic Management Journal, Wiley Blackwell, vol. 20(11), pages 1063-1069, November.

    Cited by:

    1. Shin, Jongtae & Shin, Hyun, 2013. "Institutional ownership and technological relatedness: A test of endogeneity," Journal of Business Research, Elsevier, vol. 66(11), pages 2279-2286.
    2. Paul Bishop & Peter Gripaios, 2007. "Explaining Spatial Patterns of Industrial Diversity: An Analysis of Sub-regions in Great Britain," Urban Studies, Urban Studies Journal Limited, vol. 44(9), pages 1739-1757, August.
    3. Bee, Colleen & Neubaum, Donald O., 2014. "The role of cognitive appraisal and emotions of family members in the family business system," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 323-333.
    4. Paolo Esposito & Spiridione Lucio Dicorato & Emanuele Doronzo, 2021. "The effect of ownership on sustainable development and environmental policy in urban waste management: An explicatory empirical analysis of Italian municipal corporations," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 1067-1079, February.
    5. Sin-Huei Ng & Tze San Ong & Boon Heng Teh, 2019. "An Agency Perspective on Firm Diversification, Efficiency and Performance: Evidence From Malaysia," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(6), pages 24-41, October.
    6. Nicolai J. Foss & Peter G. Klein & Lasse B. Lien & Thomas Zellweger & Todd Zenger, 2021. "Ownership competence," Strategic Management Journal, Wiley Blackwell, vol. 42(2), pages 302-328, February.
    7. Brian T. McCann & Govert Vroom, 2014. "Competitive Behavior and Nonfinancial Objectives: Entry, Exit, and Pricing Decisions in Closely Held Firms," Organization Science, INFORMS, vol. 25(4), pages 969-990, August.
    8. Nguyen, Pascal & Rahman, Nahid & Zhao, Ruoyun, 2013. "Ownership structure and divestiture decisions: Evidence from Australian firms," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 170-181.
    9. Mo Chen & Aseem Kaul & Brian Wu, 2019. "Adaptation across multiple landscapes: Relatedness, complexity, and the long run effects of coordination in diversified firms," Strategic Management Journal, Wiley Blackwell, vol. 40(11), pages 1791-1821, November.
    10. Hua Zhang & Yuanyang Song & Yuan Ding, 2015. "What Drives Managerial Perks? An Empirical Test of Competing Theoretical Perspectives," Journal of Business Ethics, Springer, vol. 132(2), pages 259-275, December.
    11. He, Jinyu & Mahoney, Joseph T., 2006. "Firm Capability, Corporate Governance, and Firm Competitive Behavior: A Multi-theoretic Framework," Working Papers 06-0103, University of Illinois at Urbana-Champaign, College of Business.
    12. Humphery-Jenner, M., 2011. "Diversification in Private Equity Funds : On Knowledge-sharing, Risk-aversion and Limited-attention," Discussion Paper 2011-046, Tilburg University, Center for Economic Research.
    13. Yoshikawa, Toru & Rasheed, Abdul A. & Del Brio, Esther B., 2010. "The impact of firm strategy and foreign ownership on executive bonus compensation in Japanese firms," Journal of Business Research, Elsevier, vol. 63(11), pages 1254-1260, November.
    14. Arora, Punit & Gaur, Ajai, 2022. "Peer directors’ effort, firm efficiency and performance of diversified firms: An efficacy-based view of governance," Journal of Business Research, Elsevier, vol. 151(C), pages 593-608.
    15. Toru Yoshikawa & Abdul A. Rasheed, 2010. "Family Control and Ownership Monitoring in Family‐Controlled Firms in Japan," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 274-295, March.
    16. Ducassy, Isabelle & Prevot, Frédéric, 2010. "The effects of family dynamics on diversification strategy: Empirical evidence from French companies," Journal of Family Business Strategy, Elsevier, vol. 1(4), pages 224-235, December.
    17. Caldart, Adrian & Ricart, Joan E., 2003. "Corporate strategy revisited: A view from complexity theory," IESE Research Papers D/528, IESE Business School.
    18. Isabelle Le Breton–Miller & Danny Miller, 2006. "Why Do Some Family Businesses Out–Compete? Governance, Long–Term Orientations, and Sustainable Capability," Entrepreneurship Theory and Practice, , vol. 30(6), pages 731-746, November.
    19. Enrico Guzzini & Donato Iacobucci, 2012. "Firm size and unrelated diversification. An empirical test on the ‘survivalist hypothesis’," Working Papers 1207, c.MET-05 - Centro Interuniversitario di Economia Applicata alle Politiche per L'industria, lo Sviluppo locale e l'Internazionalizzazione.
    20. Catuogno, Simona & Arena, Claudia & Cirillo, Alessandro & Pennacchio, Luca, 2018. "Exploring the relation between family ownership and incentive stock options: The contingency of family leadership, board monitoring and financial crisis," Journal of Family Business Strategy, Elsevier, vol. 9(1), pages 59-72.
    21. Ljubownikow, Grigorij & Ang, Siah Hwee, 2020. "Competition, diversification and performance," Journal of Business Research, Elsevier, vol. 112(C), pages 81-94.
    22. Ma. Belén Lozano García & Alberto de Miguel Hidalgo & Diana Monserrat Ríos Rodríguez, 2013. "Responsible Diversification: Knowing Enough About Diversification To Do It Responsibly: Motives, Measures And Consequences," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-19.
    23. Oesterle, Michael-Jörg & Richta, Hannah Noriko & Fisch, Jan Hendrik, 2013. "The influence of ownership structure on internationalization," International Business Review, Elsevier, vol. 22(1), pages 187-201.
    24. Humphery-Jenner, M., 2011. "Diversification in Private Equity Funds : On Knowledge-sharing, Risk-aversion and Limited-attention," Other publications TiSEM 3e22d8a9-6846-484f-a09e-7, Tilburg University, School of Economics and Management.
    25. Jieying Hong, 2024. "Globalization and stock price crash risk: evidence from the US granting permanent normal trade relations to China," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(8), pages 997-1019, October.
    26. Wei Shen & Richard Gentry, 2014. "A cyclical view of the relationship between corporate governance and strategic management," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(4), pages 959-973, November.
    27. Luis E. Davila & Vijay S. Sampath, 2018. "Determinants of MNEs' Natural Resources Endowments on Performance: An Analytical Model," International Business Research, Canadian Center of Science and Education, vol. 11(7), pages 35-45, July.
    28. Yonghyun Kwon & Seung Hun Han & Young Woo Koh, 2022. "Production Suspension, Corporate Governance, and Firm Value," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(10), pages 2711-2735, August.
    29. Viswanathan Nagarajan & Pitabas Mohanty & Apalak Khatua, 2023. "Financing effects of corporate diversification: A review," Review of Managerial Science, Springer, vol. 17(7), pages 2555-2585, October.
    30. Lau, Chung-Ming & Fan, Dennis K.K. & Young, Michael N. & Wu, Shukun, 2007. "Corporate governance effectiveness during institutional transition," International Business Review, Elsevier, vol. 16(4), pages 425-448, August.
    31. Ling, Yan & Baldridge, David & Craig, Justin B., 2012. "The impact of family structure on issue selling by successor generation members in family firms," Journal of Family Business Strategy, Elsevier, vol. 3(4), pages 220-227.
    32. Maria Sonia Medina-Salgado & María Sacristán-Navarro & Luis Ángel Guerras-Martín, 2020. "Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain," Sustainability, MDPI, vol. 12(23), pages 1-18, December.
    33. Michael Carney & Marc Van Essen & Eric R. Gedajlovic & Pursey P.M.A.R. Heugens, 2015. "What do we know about Private Family Firms? A Meta–Analytical Review," Entrepreneurship Theory and Practice, , vol. 39(3), pages 513-544, May.
    34. Elosge, Corinna & Oesterle, Michael-Joerg & Stein, Christina M. & Hattula, Stefan, 2018. "CEO succession and firms’ internationalization processes: Insights from German companies," International Business Review, Elsevier, vol. 27(2), pages 367-379.
    35. Manel Gharbi & Anis Jarboui, 2017. "Institutional investors’ role in diversifying orientation decision across Tunisian companies," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1244873-124, January.
    36. Sohvi Heaton & David Teece & Eugene Agronin, 2023. "Dynamic capabilities and governance: An empirical investigation of financial performance of the higher education sector," Strategic Management Journal, Wiley Blackwell, vol. 44(2), pages 520-548, February.
    37. Todd M. Alessandri & Anju Seth, 2014. "The effects of managerial ownership on international and business diversification: Balancing incentives and risks," Strategic Management Journal, Wiley Blackwell, vol. 35(13), pages 2064-2075, December.
    38. Francesco Calza & Giorgia Profumo & Ilaria Tutore, 2016. "Corporate Ownership and Environmental Proactivity," Business Strategy and the Environment, Wiley Blackwell, vol. 25(6), pages 369-389, September.
    39. Gilles Boevi Koumou, 2020. "Diversification and portfolio theory: a review," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 34(3), pages 267-312, September.
    40. Di Cai & Jin-hui Luo & Di-fang Wan, 2012. "Family CEOs: Do they benefit firm performance in China?," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 923-947, December.
    41. Durand, Rodolphe & Lubatkin, Michael H., 2006. "The missing lens in family firm governance theory: a self-other typology of parental altruism," HEC Research Papers Series 839, HEC Paris.
    42. Mary J. Benner & Todd Zenger, 2016. "The Lemons Problem in Markets for Strategy," Strategy Science, INFORMS, vol. 1(2), pages 71-89, June.
    43. Lähteenmäki, Jarno, 2021. "The evolution paths of neutral host businesses: Antecedents, strategies, and business models," Telecommunications Policy, Elsevier, vol. 45(10).
    44. Oesterle, Michael-Jörg & Elosge, Corinna & Elosge, Lukas, 2016. "Me, myself and I: The role of CEO narcissism in internationalization decisions," International Business Review, Elsevier, vol. 25(5), pages 1114-1123.
    45. Zinnia Mitra Bose & Indrani Chakraborty, 2022. "Effects of diversification on firm performance: an analysis of Indian firms," Indian Economic Review, Springer, vol. 57(2), pages 469-511, December.
    46. Melissa A. Williams & Ramesh P. Rao, 2006. "CEO Stock Options and Equity Risk Incentives," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(1‐2), pages 26-44, January.
    47. Esther Del Brio & Elida Maia-Ramires & Alberto De Miguel, 2011. "Ownership structure and diversification in a scenario of weak shareholder protection," Applied Economics, Taylor & Francis Journals, vol. 43(29), pages 4537-4547.
    48. Chi, Yung-Ling, 2022. "Owners’ portfolio diversification and internal capital allocation," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
    49. Lubatkin, Michael H. & Durand, Rodolphe & Ling, Yan, 2007. "The missing lens in family firm governance theory: A self-other typology of parental altruism," Journal of Business Research, Elsevier, vol. 60(10), pages 1022-1029, October.
    50. Jianfeng Wu & Dean Xu & Phillip Phan, 2011. "The effects of ownership concentration and corporate debt on corporate divestitures in Chinese listed firms," Asia Pacific Journal of Management, Springer, vol. 28(1), pages 95-114, March.
    51. Ole‐Kristian Hope & Wayne B. Thomas, 2008. "Managerial Empire Building and Firm Disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 591-626, June.
    52. Jakob Arnoldi & Yulia Muratova, 2019. "Unrelated acquisitions in China: The role of political ownership and political connections," Asia Pacific Journal of Management, Springer, vol. 36(1), pages 113-134, March.
    53. David R. King & Olimpia Meglio & Luis Gomez‐Mejia & Florian Bauer & Alfredo De Massis, 2022. "Family Business Restructuring: A Review and Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 59(1), pages 197-235, January.
    54. Fuente, Gabriel de la & Velasco, Pilar, 2020. "Capital structure and corporate diversification: Is debt a panacea for the diversification discount?," Journal of Banking & Finance, Elsevier, vol. 111(C).
    55. Lai, Jung-Ho & Chen, Li-Yu & Chen, Carl R., 2017. "Agency hazard, managerial incentives, and the wealth effects of joint venture investments," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 190-202.
    56. Sun, Xing & Lin, Minzhen & Zhong, Huaming, 2024. "The motivation and impact of polluting Enterprises' diversifications: Quasi-natural experiments from environmental protection interview," Energy Economics, Elsevier, vol. 129(C).
    57. Marco R. Di Tommaso & Elisa Barbieri & Manli Huang, 2012. "Innovation in Chinese cluster-based leading enterprises," Working Papers 1213, c.MET-05 - Centro Interuniversitario di Economia Applicata alle Politiche per L'industria, lo Sviluppo locale e l'Internazionalizzazione.

  23. Amihud, Yakov & Murgia, Maurizio, 1997. "Dividends, Taxes, and Signaling: Evidence from Germany," Journal of Finance, American Finance Association, vol. 52(1), pages 397-408, March.

    Cited by:

    1. Eva Liljeblom & Sabur Mollah & Patrik Rotter, 2015. "Do dividends signal future earnings in the Nordic stock markets?," Review of Quantitative Finance and Accounting, Springer, vol. 44(3), pages 493-511, April.
    2. Frankfurter, George M. & Wood, Bob Jr., 2002. "Dividend policy theories and their empirical tests," International Review of Financial Analysis, Elsevier, vol. 11(2), pages 111-138.
    3. Nan-Ting Kuo, 2013. "Dividend tax signaling and the pricing of future earnings: a case of taxable stock dividends," Review of Quantitative Finance and Accounting, Springer, vol. 40(3), pages 539-570, April.
    4. Correia Da Silva, L. & Goergen, M. & Renneboog, L.D.R., 2002. "When do German Firms Change their Dividends?," Other publications TiSEM c2343cc2-8f25-496b-9953-2, Tilburg University, School of Economics and Management.
    5. Okechukwu Enyeribe Njoku & Younghwan Lee, 2024. "Revisiting the Effect of Dividend Policy on Firm Performance and Value: Empirical Evidence from the Korean Market," IJFS, MDPI, vol. 12(1), pages 1-36, February.
    6. Shireen Rosario & Kavita Chavali, 2016. "Market Reaction on Dividend Announcement in Oman: An Event Study Methodology," International Journal of Economics and Financial Issues, Econjournals, vol. 6(1), pages 103-108.
    7. Fukuda, Atsuo, 2000. "Dividend changes and earnings performance in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 8(1), pages 53-66, March.
    8. Elisabete Duarte Neves, 2014. "Ownership Structure and Investor¡¯s Sentiments for Dividends," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 5(2), pages 35-58, April.
    9. Brav, Alon & Graham, John R. & Harvey, Campbell R. & Michaely, Roni, 2005. "Payout policy in the 21st century," Journal of Financial Economics, Elsevier, vol. 77(3), pages 483-527, September.
    10. Hartmann-Wendels, Thomas & Stein, Ingrid & Stöter, Alwin, 2012. "Tax incentives and capital structure choice: Evidence from Germany," Discussion Papers 18/2012, Deutsche Bundesbank.
    11. Andres, Christian & Betzer, André & Doumet, Markus & Theissen, Erik, 2013. "Open market share repurchases in Germany: A conditional event study approach," CFR Working Papers 13-02, University of Cologne, Centre for Financial Research (CFR).
    12. Gugler, Klaus, 2003. "Corporate governance, dividend payout policy, and the interrelation between dividends, R&D, and capital investment," Journal of Banking & Finance, Elsevier, vol. 27(7), pages 1297-1321, July.
    13. Fabio Braggion & Lyndon Moore, 2011. "Dividend Policies in an Unregulated Market: The London Stock Exchange, 1895--1905," The Review of Financial Studies, Society for Financial Studies, vol. 24(9), pages 2935-2973.
    14. Bena, Jan & Hanousek, Jan, 2006. "Rent extraction by large shareholders: evidence using dividend policy in the Czech Republic," LSE Research Online Documents on Economics 24510, London School of Economics and Political Science, LSE Library.
    15. Renneboog, Luc & Szilagyi, Peter, 2020. "How relevant is dividend policy under low shareholder protection?," Other publications TiSEM 9fab895c-69f2-4056-8df8-8, Tilburg University, School of Economics and Management.
    16. Sana Charbti & Fabrice Hervé & Evelyne Poincelot, 2021. "Dividend Policy and Managerial Overconfidence: French Evidence," Post-Print hal-03199452, HAL.
    17. Bernhardt, Dan & Robertson, Fiona J., 1993. "Testing Dividend Signalling Models," Working Papers 828, California Institute of Technology, Division of the Humanities and Social Sciences.
    18. Zura Kakushadze & Juan Andrés Serur, 2018. "151 Trading Strategies," Springer Books, Springer, number 978-3-030-02792-6, June.
    19. Blau, Benjamin M. & Fuller, Kathleen P. & Van Ness, Robert A., 2011. "Short selling around dividend announcements and ex-dividend days," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 628-639, June.
    20. Andres, Christian & Doumet, Markus & Fernau, Erik & Theissen, Erik, 2013. "The Lintner model revisited: Dividends versus total payouts," CFR Working Papers 14-02, University of Cologne, Centre for Financial Research (CFR).
    21. Brunzell, Tor & Liljeblom, Eva & Löflund, Anders & Vaihekoski, Mika, 2014. "Dividend policy in Nordic listed firms," Global Finance Journal, Elsevier, vol. 25(2), pages 124-135.
    22. Nowak, Eric, 1998. "Finance, investment, and firm value in Germany and the US: A comparative analysis," SFB 373 Discussion Papers 1998,49, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    23. Christian Andres & André Betzer & Inga van den Bongard & Christian Haesner & Erik Theissen, 2011. "Dividend Announcements Reconsidered - Dividend Changes versus Dividend Surprises," Schumpeter Discussion Papers sdp11013, Universitätsbibliothek Wuppertal, University Library.
    24. John Capstaff & Audun Klæboe & Andrew P. Marshall, 2004. "Share Price Reaction to Dividend Announcements: Empirical Evidence on the Signaling Model from the Oslo Stock Exchange," Multinational Finance Journal, Multinational Finance Journal, vol. 8(1-2), pages 115-139, March-Jun.
    25. Sunaina Kanojia & Bunny Singh Bhatia, 2022. "Corporate governance and dividend policy of the US and Indian companies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1339-1373, December.
    26. Tyutyuryukov Vladimir, 2016. "What can VAT Statistics Tell Politicians? (with a Focus on EAEU Data)," NISPAcee Journal of Public Administration and Policy, Sciendo, vol. 9(2), pages 239-269, December.
    27. Henryk Gurgul & Pawel Majdosz & Roland Mestel, 2007. "Zur Verwendung von Regressionsmodellen im Rahmen von finanzwirtschaftlichen Ereignisstudien," Managerial Economics, AGH University of Science and Technology, Faculty of Management, vol. 1, pages 121-142.
    28. Pick, Tobias & Schanz, Deborah & Niemann, Rainer, 2009. "Stock price reactions to share repurchase announcements in Germany: Evidence from a tax perspective," arqus Discussion Papers in Quantitative Tax Research 89, arqus - Arbeitskreis Quantitative Steuerlehre.
    29. Richard Hofler & Julie Ann Elston & Junsoo Lee, 2004. "Dividend Policy and Institutional Ownership: Empirical Evidence using a Propensity Score Matching Estimator," Papers on Entrepreneurship, Growth and Public Policy 2004-27, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    30. Szymon Okoń, 2012. "Investor Reaction to Mandatory Offers on the Warsaw Stock Exchange," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(2), June.
    31. Lee, Bong Soo & Suh, Jungwon, 2011. "Cash holdings and share repurchases: International evidence," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1306-1329.
    32. Bozos, Konstantinos & Nikolopoulos, Konstantinos & Ramgandhi, Ghanamaruthy, 2011. "Dividend signaling under economic adversity: Evidence from the London Stock Exchange," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 364-374.
    33. Al-Yahyaee, Khamis H. & Pham, Toan M. & Walter, Terry S., 2011. "The information content of cash dividend announcements in a unique environment," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 606-612, March.
    34. Manuel Ammann & Ralf Seiz & Martin Zulauf, 2006. "Nennwertrückzahlungen am Schweizer Aktienmarkt und ihre Auswirkungen auf den Unternehmenswert," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(IV), pages 447-477, December.
    35. Andres, Christian & Betzer, André & Goergen, Marc & Renneboog, Luc, 2009. "Dividend policy of German firms: A panel data analysis of partial adjustment models," Journal of Empirical Finance, Elsevier, vol. 16(2), pages 175-187, March.
    36. Szilagyi, P.G., 2007. "Corporate governance and the agency costs of debt and outside equity," Other publications TiSEM 9520d40a-224f-43a8-9bf9-b, Tilburg University, School of Economics and Management.
    37. Booth, Laurence & Zhou, Jun, 2017. "Dividend policy: A selective review of results from around the world," Global Finance Journal, Elsevier, vol. 34(C), pages 1-15.

  24. Amihud, Yakov & Mendelson, Haim & Lauterbach, Beni, 1997. "Market microstructure and securities values: Evidence from the Tel Aviv Stock Exchange," Journal of Financial Economics, Elsevier, vol. 45(3), pages 365-390, September.
    See citations under working paper version above.
  25. Amihud, Yakov, 1996. "Unexpected Inflation and Stock Returns Revisited--Evidence from Israel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(1), pages 22-33, February.

    Cited by:

    1. Brunnermeier, Markus K. & Julliard, Christian, 2006. "Money illusion and housing frenzies," LSE Research Online Documents on Economics 4806, London School of Economics and Political Science, LSE Library.
    2. Sellin, Peter, 1998. "Monetary Policy and the Stock Market: Theory and Empirical Evidence," Working Paper Series 72, Sveriges Riksbank (Central Bank of Sweden).
    3. Paudyal, Krishna & Saldanha, Liesl, 1997. "Stock returns and volatility in two regime markets: International evidence," International Review of Financial Analysis, Elsevier, vol. 6(3), pages 209-228.
    4. Barnes, Michelle L., 1999. "Inflation and returns revisited: a TAR approach," Journal of Multinational Financial Management, Elsevier, vol. 9(3-4), pages 233-245, November.
    5. William Hardin & Xiaoquan Jiang & Zhonghua Wu, 2012. "REIT Stock Prices with Inflation Hedging and Illusion," The Journal of Real Estate Finance and Economics, Springer, vol. 45(1), pages 262-287, June.
    6. Jamie Alcock & Eva Steiner, 2017. "Unexpected Inflation, Capital Structure, and Real Risk-adjusted Firm Performance," Abacus, Accounting Foundation, University of Sydney, vol. 53(2), pages 273-298, June.
    7. Tsai, I-Chun, 2020. "Alternative explanation of the money illusion: The effect of unexpected low inflation," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 110-123.
    8. Li, Lifang & Narayan, Paresh Kumar & Zheng, Xinwei, 2010. "An analysis of inflation and stock returns for the UK," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(5), pages 519-532, December.
    9. Sung Bae & Taihyeup David Yi, 2009. "Structural breaks and the Fisher hypothesis in bond and stock markets," Applied Financial Economics, Taylor & Francis Journals, vol. 19(24), pages 1961-1973.
    10. Peter Sellin, 2001. "Monetary Policy and the Stock Market: Theory and Empirical Evidence," Journal of Economic Surveys, Wiley Blackwell, vol. 15(4), pages 491-541, September.
    11. Jovanovic, B. & Ueda, M., 1998. "Stock-Returns and Inflation in a Principal-Agent Economy," Working Papers 98-15, C.V. Starr Center for Applied Economics, New York University.
    12. Lajeri, Fatma & Dermine, Jean, 1999. "Unexpected inflation and bank stock returns: The case of France 1977-1991," Journal of Banking & Finance, Elsevier, vol. 23(6), pages 939-953, June.
    13. Kadilli, Anjeza, 2015. "Predictability of stock returns of financial companies and the role of investor sentiment: A multi-country analysis," Journal of Financial Stability, Elsevier, vol. 21(C), pages 26-45.
    14. Virk, Nader Shahzad & Butt, Hilal Anwar, 2022. "Asset pricing anomalies: Liquidity risk hedgers or liquidity risk spreaders?," International Review of Financial Analysis, Elsevier, vol. 81(C).
    15. Du, Ding, 2006. "Monetary policy, stock returns and inflation," Journal of Economics and Business, Elsevier, vol. 58(1), pages 36-54.
    16. Richard Podpiera, 2000. "Efficiency of Financial Markets in Transition: The Case of Macroeconomic Releases," CERGE-EI Working Papers wp156, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    17. Schmeling, Maik & Schrimpf, Andreas, 2011. "Expected inflation, expected stock returns, and money illusion: What can we learn from survey expectations?," European Economic Review, Elsevier, vol. 55(5), pages 702-719, June.
    18. Yu-Fen Chen & Thomas Chinan Chiang & Fu-Lai Lin, 2023. "Inflation, Equity Market Volatility, and Bond Prices: Evidence from G7 Countries," Risks, MDPI, vol. 11(11), pages 1-22, October.
    19. Nadeem Iqbal & Sajid Rahman Khattak & Muhammad Arif Khattak, 2013. "Relationship between Macroeconomic Variables and KSE-100 Index: Evidence from Pakistan," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(4), pages 101-105, December.
    20. Massa, Massimo & Locarno, Alberto, 2005. "Monetary Policy Uncertainty and the Stock Market," CEPR Discussion Papers 4828, C.E.P.R. Discussion Papers.
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    1. Gourieroux, Christian & Le Fol, Gaëlle, 1997. "Modes de négociation et caractéristiques de marché," CEPREMAP Working Papers (Couverture Orange) 9714, CEPREMAP.
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    3. Yakov Amihud & Haim Mendelson & Beni Lauterbach, 1996. "Market Microstructure and Securities Values: Evidence From the Tel Aviv Stock Exchange," New York University, Leonard N. Stern School Finance Department Working Paper Seires 96-7, New York University, Leonard N. Stern School of Business-.
    4. Yamori, Nobuyoshi, 1998. "Does international trading of stocks decrease pricing errors? Evidence from Japan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 8(3-4), pages 413-432, December.
    5. Olfa Benouda Sioud & Dorra Mezzez Hmaied, 2002. "The Impact of Automation on Liquidity, Volatility, Stock Returns and Efficiency: Evidence from the Tunisian Stock Market," Working Papers 0222, Economic Research Forum, revised 01 Aug 2002.
    6. Biais, Bruno & Glosten, Larry & Spatt, Chester, 2005. "Market microstructure: A survey of microfoundations, empirical results, and policy implications," Journal of Financial Markets, Elsevier, vol. 8(2), pages 217-264, May.
    7. Marta Khomyn, 2020. "Essays on Modern Market Structure," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 2-2020, January-A.
    8. Rosita P. Chang & Shuh‐Tzy Hsu & Nai‐Kuan Huang & S. Ghon Rhee, 1999. "The Effects of Trading Methods on Volatility and Liquidity: Evidence from the Taiwan Stock Exchange," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(1‐2), pages 137-170, January.
    9. Staglianò, Raffaele & La Rocca, Maurizio & Gerace, Dionigi, 2018. "The impact of ownership concentration and analyst coverage on market liquidity: Comparative evidence from an auction and a specialist market," Economic Modelling, Elsevier, vol. 70(C), pages 203-214.
    10. FERROUHI, El Mehdi & EZZAHID, Elhadj, 2013. "Trading mechanisms, return’s volatility and efficiency in the Casablanca Stock Exchange," MPRA Paper 77322, University Library of Munich, Germany.
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    19. Muscarella, Chris J. & Piwowar, Michael S., 2001. "Market microstructure and securities values: : Evidence from the Paris Bourse," Journal of Financial Markets, Elsevier, vol. 4(3), pages 209-229, June.
    20. Patricia Chelley-Steeley, 2001. "Opening Returns, Noise, And Overreaction," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 24(4), pages 513-521, December.
    21. Comerton-Forde, Carole & Rydge, James, 2006. "The current state of Asia-Pacific stock exchanges: A critical review of market design," Pacific-Basin Finance Journal, Elsevier, vol. 14(1), pages 1-32, January.
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    28. Cem Mehmet Baydur & Bora Suslu & Selahattin Bekmez, 2005. "Monetary Policy Analysis for Turkey in a Game Theoretical Perspective," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 8(29), pages 39-64.
    29. Coppejans, Mark & Domowitz, Ian, 1997. "Noise In the Price Discovery Process: A Comparison of Periodicand Continuous Auctions," Working Papers 97-04, Duke University, Department of Economics.
    30. Gary Tian & Mingyuan Guo, 2007. "Interday and intraday volatility: Additional evidence from the Shanghai Stock Exchange," Review of Quantitative Finance and Accounting, Springer, vol. 28(3), pages 287-306, April.
    31. Jones, Charles M. & Kaul, Gautam & Lipson, Marc L., 1994. "Information, trading, and volatility," Journal of Financial Economics, Elsevier, vol. 36(1), pages 127-154, August.
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    33. Shmuel Hauser & Azriel Levy, 1998. "Efficiency of Price Discovery in Thinly Traded Stocks: Evidence from Dual Listings in Tel Aviv and the OTC," Multinational Finance Journal, Multinational Finance Journal, vol. 2(2), pages 133-149, June.
    34. M. Hasan Eken, 2005. "A Risk and Profitability Approach to Bank Performance Measurement: The Case of Turkish Commercial Banks," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 8(29), pages 15-38.
    35. Comerton-Forde, Carole & Rydge, James, 2006. "The influence of call auction algorithm rules on market efficiency," Journal of Financial Markets, Elsevier, vol. 9(2), pages 199-222, May.
    36. Sioud Olfa Benouda & Mezzez Hmaied Dorra, 2003. "The Effects of Automation on Liquidity, Volatility, Stock Returns and Efficiency: Evidence from the Tunisian Stock Market," Review of Middle East Economics and Finance, De Gruyter, vol. 1(2), pages 43-56, August.
    37. Chelley-Steeley, Patricia, 2005. "Explaining volatility and serial correlation in opening and closing returns: A study of the FT-30 components," Global Finance Journal, Elsevier, vol. 16(1), pages 1-15, August.
    38. Chow, Edward H. & Lee, Jie-Haun & Shyy, Gang, 1996. "Trading mechanisms and trading preferences on a 24-hour futures market: A case study of the Floor/GLOBEX switch on MATIF," Journal of Banking & Finance, Elsevier, vol. 20(10), pages 1695-1713, December.
    39. Güray Kucukkocaoglu, 2005. "Single-Price Auction System for the Istanbul Stock Exchange," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 8(29), pages 65-79.
    40. Lars Norden, 1994. "Daily distribution of Swedish OMX-index returns over intraday-to-intraday time intervals," Finnish Economic Papers, Finnish Economic Association, vol. 7(1), pages 3-16, Spring.
    41. Guler Aras & Alovsat Muslumov, 2005. "Institutional Investors and Stock Market Development: A Causality Study," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 8(29), pages 1-14.
    42. Yu Chuan Huang & Shu Hui Chan, 2010. "Trading Behavior on Expiration Days and Quarter-End Days: The Effect of a New Closing Method," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 46(4), pages 105-125, January.

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    1. Field, Laura Casares & Mkrtchyan, Anahit, 2017. "The effect of director experience on acquisition performance," Journal of Financial Economics, Elsevier, vol. 123(3), pages 488-511.
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    4. Ettore Crocia & John A. Doukas & Halit Gonenc, 2010. "Family Control and Financing Decisions," Koç University-TUSIAD Economic Research Forum Working Papers 1004, Koc University-TUSIAD Economic Research Forum.
    5. Gokkaya, Sinan & Liu, Xi & Stulz, René M., 2023. "Do firms with specialized M&A staff make better acquisitions?," Journal of Financial Economics, Elsevier, vol. 147(1), pages 75-105.
    6. Fang, Tian Jin & Han, Jianlei & He, Jing & Shi, Jing, 2021. "Property rights protection and mergers and acquisitions," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    7. Mamun, Abdullah & Mishra, Dev & Zhan, Lei, 2021. "The value of intangible capital transfer in mergers," Journal of Economics and Business, Elsevier, vol. 117(C).
    8. Kohers, Theodor & Huang, Ming-hsiang & Kohers, Ninon, 2000. "Market perception of efficiency in bank holding company mergers: the roles of the DEA and SFA models in capturing merger potential," Review of Financial Economics, Elsevier, vol. 9(2), pages 101-120, December.
    9. Mustafa Caglayan & Abdul Rashid, 2010. "The response of firms' leverage to uncertainty: Evidence from UK public versus non-public firms," Working Papers 2010019, The University of Sheffield, Department of Economics, revised Oct 2010.
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    1. Qi Feng & J. George Shanthikumar, 2018. "Supply and Demand Functions in Inventory Models," Operations Research, INFORMS, vol. 66(1), pages 77-91, 1-2.
    2. Antoniou, Fabio & Fiocco, Raffaele & Guo, Dongyu, 2017. "Asymmetric price adjustments: A supply side approach," Working Papers 2072/306511, Universitat Rovira i Virgili, Department of Economics.
    3. Wen, Yi, 2004. "General Equilibrium Analysis of the Supply of Capital," Working Papers 04-02, Cornell University, Center for Analytic Economics.
    4. Garrett van Ryzin & Gustavo Vulcano, 2004. "Optimal Auctioning and Ordering in an Infinite Horizon Inventory-Pricing System," Operations Research, INFORMS, vol. 52(3), pages 346-367, June.
    5. Bhaskar Das, 1998. "Price smoothing and inventory adjustments," Applied Economics Letters, Taylor & Francis Journals, vol. 5(2), pages 117-119.
    6. Alex Nikolsko-Rzhevskyy & Oleksandr Talavera & Nam Vu, 2020. "The Flood that Caused a Drought," Discussion Papers 20-14, Department of Economics, University of Birmingham.
    7. Jan A. Miegham & Maqbool Dada, 1997. "Capacity Investment under Demand Uncertainty: Price vs. Quantity Competition," Discussion Papers 1204, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    8. Alan S. Blinder & Louis J. Maccini, 1990. "The Resurgence of Inventory Research: What Have We Learned?," NBER Working Papers 3408, National Bureau of Economic Research, Inc.
    9. Yi Wen, 2005. "Production and inventory behavior of capital," Working Papers 2005-044, Federal Reserve Bank of St. Louis.
    10. Yi Wen, 2005. "Durable good inventories and the volatility of production: explaining the less volatile U.S. economy," Working Papers 2005-047, Federal Reserve Bank of St. Louis.
    11. Gu, Gyun Cheol, 2012. "Denial, Rationalization, and the Administered Price Thesis," MPRA Paper 42594, University Library of Munich, Germany.
    12. Dennis W. Carlton, 1987. "The Theory and the Facts of How Markets Clear: Is Industrial Organization Valuable for Understanding Macroeconomics?," NBER Working Papers 2178, National Bureau of Economic Research, Inc.
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    25. Jan A. Van Mieghem & Maqbool Dada, 1999. "Price Versus Production Postponement: Capacity and Competition," Management Science, INFORMS, vol. 45(12), pages 1639-1649, December.
    26. Wen, Yi, 2003. "The Power of Demand: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories," Working Papers 03-13r, Cornell University, Center for Analytic Economics.
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  36. Amihud, Yakov & Mendelson, Haim, 1983. "Multiperiod sales-production decisions under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 5(1), pages 249-265, February.

    Cited by:

    1. Jan A. Miegham & Maqbool Dada, 1997. "Capacity Investment under Demand Uncertainty: Price vs. Quantity Competition," Discussion Papers 1204, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. Srinivas Bollapragada & Thomas E. Morton, 1999. "Myopic Heuristics for the Random Yield Problem," Operations Research, INFORMS, vol. 47(5), pages 713-722, October.
    3. Krishnan S. Anand & Haim Mendelson, 1998. "Postponement and Information in a Supply Chain," Discussion Papers 1222, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. Tobias Schlueter & Soenke Sievers, 2014. "Determinants of market beta: the impacts of firm-specific accounting figures and market conditions," Review of Quantitative Finance and Accounting, Springer, vol. 42(3), pages 535-570, April.
    5. Jan A. Van Mieghem & Maqbool Dada, 1999. "Price Versus Production Postponement: Capacity and Competition," Management Science, INFORMS, vol. 45(12), pages 1639-1649, December.

  37. Amihud, Yakov & Kamin, Jacob Y. & Ronen, Joshua, 1983. "`Managerialism', `ownerism' and risk," Journal of Banking & Finance, Elsevier, vol. 7(2), pages 189-196, June.

    Cited by:

    1. Rebecca Demsetz & Philip E. Strahan, 1995. "Diversification, size, and risk at bank holding companies," Research Paper 9506, Federal Reserve Bank of New York.
    2. STOLOWY, Herve & BRETON, Gaetan, 2000. "A framework for the classification of accounts manipulations," HEC Research Papers Series 708, HEC Paris.
    3. Linda Allen & Julapa Jagtiani & Stavros Peristiani & Anthony Saunders, 2002. "The role of bank advisors in mergers and acquisitions," Staff Reports 143, Federal Reserve Bank of New York.
    4. Canarella, Giorgio & Miller, Stephen M., 2022. "Firm size, corporate debt, R&D activity, and agency costs: Exploring dynamic and non-linear effects," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
    5. Bisin, Alberto & Acharya, Viral, 2002. "Entrepreneurial Incentives in Stock Market Economies," CEPR Discussion Papers 3474, C.E.P.R. Discussion Papers.
    6. Fok, Robert C. W. & Carroll, Carolyn & Chiou, Ming C., 1997. "Determinants of corporate hedging and derivatives: A revisit," Journal of Economics and Business, Elsevier, vol. 49(6), pages 569-585.

  38. Amihud, Yakov & Mendelson, Haim, 1982. "Relative Price Dispersion and Economic Shocks: An Inventory-Adjustment Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(3), pages 390-398, August.

    Cited by:

    1. Zeinab Partow, 1995. "Una revisión de la Literatura sobre los Costos de la Inflación," Borradores de Economia 032, Banco de la Republica de Colombia.

  39. Amihud, Yakov, 1982. "Unanticipated inflation and economic activity," Economics Letters, Elsevier, vol. 9(4), pages 327-335.

    Cited by:

    1. Ali F. Darrat, 1988. "Rational Expectations and the Role of Monetary Policy: Some Tests Based on the Fisher Equation," Eastern Economic Journal, Eastern Economic Association, vol. 14(3), pages 211-219, Jul-Sep.

  40. Haim Mendelson & Yakov Amihud, 1982. "Optimal Consumption Policy under Uncertain Income," Management Science, INFORMS, vol. 28(6), pages 683-697, June.

    Cited by:

    1. Martin Browning & Thomas Crossley, 2001. "The life-cycle model of consumption and saving," IFS Working Papers W01/15, Institute for Fiscal Studies.
    2. Shenghao Zhu, 2020. "Existence Of Stationary Equilibrium In An Incomplete‐Market Model With Endogenous Labor Supply," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(3), pages 1115-1138, August.
    3. Mark Huggett, 2004. "Precautionary Wealth Accumulation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(3), pages 769-781.
    4. Nikolaj Malchow-Moeller & Bo Jellesmark Thorsen, "undated". "A Dynamic Agricultural Household Model with Uncertain Income and Irreversible and Indivisible Investments under Credit Constraints," Economics Working Papers 2000-7, Department of Economics and Business Economics, Aarhus University.
    5. Huggett, Mark & Vidon, Edouard, 2002. "Precautionary wealth accumulation: a positive third derivative is not enough," Economics Letters, Elsevier, vol. 76(3), pages 323-329, August.
    6. Schreiner, Mark & Graham, Douglas H. & Miranda, Mario, 1997. "Choices by Poor Households when the Interest Rate for Deposits Differs from the Interest Rate for loans," 1997 Conference, August 10-16, 1997, Sacramento, California 197056, International Association of Agricultural Economists.
    7. Wilson, Bonnie, 2003. "Diversification of risk and saving," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(4), pages 697-712.
    8. Richard M. H. Suen, 2011. "Concave Consumption Function and Precautionary Wealth Accumulation," Working papers 2011-23, University of Connecticut, Department of Economics.
    9. Xue Dong He & Chen Yang & Yutian Zhou, 2024. "Optimal Design of Automated Market Makers on Decentralized Exchanges," Papers 2404.13291, arXiv.org, revised Nov 2024.
    10. Schreiner, Mark & Graham, Douglas H. & Miranda, Mario J., 1995. "The Effects On Peasant Households Of Access To Formal Deposits And Loans," Economics and Sociology Occasional Papers - ESO Series 28329, Ohio State University, Department of Agricultural, Environmental and Development Economics.
    11. Huggett, Mark & Ospina, Sandra, 2001. "Aggregate precautionary savings: when is the third derivative irrelevant?," Journal of Monetary Economics, Elsevier, vol. 48(2), pages 373-396, October.

  41. Amihud, Yakov & Mendelson, Haim, 1982. "The output-inflation relationship : An inventory-adjustment approach," Journal of Monetary Economics, Elsevier, vol. 9(2), pages 163-184.

    Cited by:

    1. Robert P. Flood & Robert J. Hodrick, 1985. "Optimal Price and Inventory Adjustment in an Open-Economy Model of the Business Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(Supplemen), pages 887-914.
    2. Robert P. Flood & Robert J. Hodrick, 1986. "Money and the Open Economy Business Cycle: A Flexible Price Model," NBER Working Papers 1967, National Bureau of Economic Research, Inc.
    3. Ronald Balvers, 1992. "A Keynesian general equilibrium model with competitive firms and rational expectations," Journal of Economics, Springer, vol. 56(1), pages 23-38, February.

  42. Yakov Amihud & Baruch Lev, 1981. "Risk Reduction as a Managerial Motive for Conglomerate Mergers," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 605-617, Autumn.

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    1. Rebecca Demsetz & Philip E. Strahan, 1995. "Diversification, size, and risk at bank holding companies," Research Paper 9506, Federal Reserve Bank of New York.
    2. Ushijima, Tatsuo, 2020. "More-money and less-cash effects of diversification: Evidence from Japanese firms," Japan and the World Economy, Elsevier, vol. 56(C).
    3. Chatjuthamard, Pattanaporn & Jiraporn, Pornsit & Lee, Sang Mook & Sarajoti, Pattarake, 2024. "Customer concentration, managerial risk aversion, and hostile takeover threats," The Quarterly Review of Economics and Finance, Elsevier, vol. 95(C), pages 268-279.
    4. Lee Dunham & Ken Washer, 2012. "The Ethics of Hedging by Executives," Journal of Business Ethics, Springer, vol. 111(2), pages 157-164, December.
    5. Jun Lu & Wei Wang, 2015. "Board independence and corporate investments," Review of Financial Economics, John Wiley & Sons, vol. 24(1), pages 52-64, January.
    6. Bernardus Ferdinandus Nazar Van Doornik & Dimas Mateus Fazio & David Schoenherr & Janis Skrastins, 2020. "Unemployment Insurance as a Subsidy to Risky Firms," Working Papers Series 523, Central Bank of Brazil, Research Department.
    7. David Ngoungo, 2012. "The Practice of Corporate Governance in Companies Receiving Foreign Direct Investment in Cameroon," Research in World Economy, Research in World Economy, Sciedu Press, vol. 3(1), pages 2-19, March.
    8. Bracha Meth, 1996. "Reduction of Outcome Variance: Optimality and Incentives," Contemporary Accounting Research, John Wiley & Sons, vol. 13(1), pages 309-328, March.
    9. Maretno Harjoto & Ha-Chin Yi & Tosporn Chotigeat, 2012. "Why do banks acquire non-banks?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 36(3), pages 587-612, July.
    10. Ivonne A. Liebenberg & Zhilu Lin, 2019. "The Effect of Diversification under Different Ownership Structures and Economic Conditions: Evidence from the Great Recession," JRFM, MDPI, vol. 12(2), pages 1-26, May.
    11. Morrow, John & Boehm, Johannes & Dhingra, Swati, 2019. "The Comparative Advantage of Firms," CEPR Discussion Papers 13699, C.E.P.R. Discussion Papers.
    12. Singh, Rajdeep, 1998. "Takeover Bidding with Toeholds: The Case of the Owner's Curse," The Review of Financial Studies, Society for Financial Studies, vol. 11(4), pages 679-704.
    13. John, Kose & Knyazeva, Anzhela & Knyazeva, Diana, 2015. "Employee rights and acquisitions," Journal of Financial Economics, Elsevier, vol. 118(1), pages 49-69.
    14. Silhan, Peter A., 2014. "Income smoothing from a Census X-12 perspective," Advances in accounting, Elsevier, vol. 30(1), pages 106-115.
    15. Ely, David P. & Song, Moon H., 2000. "Acquisition activity of large depository institutions in the 1990s:: An empirical analysis of motives," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(4), pages 467-484.
    16. Kim, Kong-Hee & Al-Shammari, Hussam A. & Kim, Bongjin & Lee, Seung-Hyun, 2009. "CEO duality leadership and corporate diversification behavior," Journal of Business Research, Elsevier, vol. 62(11), pages 1173-1180, November.
    17. Sinha, Pankaj & Gupta, Sushant, 2011. "Mergers and Acquisitions: A pre-post analysis for the Indian financial services sector," MPRA Paper 31253, University Library of Munich, Germany.
    18. Nanda, Vikram & Narayanan, M. P., 1999. "Disentangling Value: Financing Needs, Firm Scope, and Divestitures," Journal of Financial Intermediation, Elsevier, vol. 8(3), pages 174-204, July.
    19. Teodora Paligorova, 2010. "Corporate Risk Taking and Ownership Structure," Staff Working Papers 10-3, Bank of Canada.
    20. Lin, Luca X., 2022. "Taking no chances: Lender concentration and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    21. Glaser, Markus & Müller, Sebastian, 2010. "Is the diversification discount caused by the book value bias of debt?," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2307-2317, October.
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    1. Gelles, Gregory M. & Mitchell, Douglas W., 2002. "Two-moment decision models and utility-representable preferences: a comment on Bar-Shira and Finkelshtain," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 423-427, November.

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