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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10016/109
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Files in This Item:
| wb050202.pdf | -- 2006-11-07 -- Available on Internet -- preprint | 375,11 kB | Adobe PDF | |  |
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| Title: | Disclosure and liquidity |
| Author(s): | Espinosa, Mónica
Tapia, Mikel [mtapia]
Trombetta, Marco |
| Issued date: | Jan-2005 |
| URI: | http://hdl.handle.net/10016/109 |
| Abstract: | The purpose of this paper is to test empirically the relationship between two important concepts: disclosure and liquidity. Using a sample of Spanish quoted firms between 1994 and 2000 we show that the estimation of the relationship between disclosure and liquidity depends crucially on two factors: a) the multidimensionality of the concept of liquidity; b) the use of an econometric methodology that deals properly with the features of the sample used. However the use of the Amihud (2002) illiquidity measure provides evidence in favour of a positive relationship between disclosure and liquidity. |
| Serie / Nº.: | UC3M Working Papers. Bussiness Economics
2005-02 |
| Appears in Collections: | DEE - Working Papers. Business Economics. WB
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