The effect of information quality on liquidity risk
Journal of Accounting and Economics, ISSN: 0165-4101, Vol: 52, Issue: 2, Page: 126-143
2011
- 125Citations
- 823Usage
- 271Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
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Metrics Details
- Citations125
- Citation Indexes124
- 124
- CrossRef59
- Academic Citation Index (ACI) - airiti2
- Policy Citations1
- 1
- Usage823
- Downloads754
- Abstract Views69
- Captures271
- Readers271
- 271
Article Description
I investigate whether information quality affects the cost of equity capital through liquidity risk. Liquidity risk is the sensitivity of stock returns to unexpected changes in market liquidity; recent asset pricing literature has emphasized the importance of this systematic risk. I find that higher information quality is associated with lower liquidity risk and that the reduction in cost of capital due to this association is economically significant. I also find that the negative association between information quality and liquidity risk is stronger in times of large shocks to market liquidity.
Bibliographic Details
http://www.sciencedirect.com/science/article/pii/S016541011100036X; http://dx.doi.org/10.1016/j.jacceco.2011.03.004; http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=83355163489&origin=inward; https://linkinghub.elsevier.com/retrieve/pii/S016541011100036X; https://api.elsevier.com/content/article/PII:S016541011100036X?httpAccept=text/xml; https://api.elsevier.com/content/article/PII:S016541011100036X?httpAccept=text/plain; https://ink.library.smu.edu.sg/soa_research/877; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1876&context=soa_research
Elsevier BV
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