Stock market liquidity and rm performance: Wall Street rule or Wall Street rules?
This paper investigates the relation between stock liquidity and firm performance. The study shows that firms with liquid stocks have better performance as measured by the firm market-to-book ratio. This result is robust to the inclusion of industry or firm fixed effects, a control for idiosyncratic...
| Main Authors: | , , |
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| Format: | Journal article |
| Published: |
2009
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