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dc.contributor.author엄찬영-
dc.date.accessioned2019-11-24T18:34:57Z-
dc.date.available2019-11-24T18:34:57Z-
dc.date.issued2017-04-
dc.identifier.citationREVIEW OF FINANCIAL ECONOMICS, v. 33, page. 1-11en_US
dc.identifier.issn1058-3300-
dc.identifier.issn1873-5924-
dc.identifier.urihttps://onlinelibrary.wiley.com/doi/abs/10.1016/j.rfe.2017.02.001-
dc.identifier.urihttps://repository.hanyang.ac.kr/handle/20.500.11754/113835-
dc.description.abstractWe document that corporate investment contributes to stock liquidity. This study demonstrates a positive relationship between abnormal corporate investment and stock liquidity in the cross-section. Moreover, stock liquidity improves more apparently for firms with financial constraints. Our robustness check confirms that the existing regularities cannot explain the current finding. This analysis suggests that corporate investment decreases the risk of a firm and that a change in the risk affects the behavior of a market maker, leading to an increase in stock liquidity. (C) 2017 Elsevier Inc. All rights reserved.en_US
dc.language.isoen_USen_US
dc.publisherELSEVIER SCIENCE INCen_US
dc.subjectStock liquidityen_US
dc.subjectCorporate investmenten_US
dc.subjectFinancial constraintsen_US
dc.titleCorporate investment and stock liquidity: Evidence on the price impact of tradeen_US
dc.typeArticleen_US
dc.identifier.doi10.1016/j.rfe.2017.02.001-
dc.relation.page1-11-
dc.relation.journalReview of Financial Economics-
dc.contributor.googleauthorKang, Moonsoo-
dc.contributor.googleauthorWang, Wei-
dc.contributor.googleauthorEom, Chanyoung-
dc.relation.code2017039018-
dc.sector.campusS-
dc.sector.daehakSCHOOL OF BUSINESS[S]-
dc.sector.departmentDEPARTMENT OF FINANCE-
dc.identifier.pidcyeom73-
dc.identifier.researcherIDL-5103-2019-
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