Policy uncertainty and stock liquidity [UniSA 2018]

My Nguyen    My Nguyen, Huu Nhan Duong, Chandrasekhar Krishnamurti, Justin Hung Nguyen, S. Ghon Rhee
21 Nov 2018
Categories: Economics, Financial Policy, Regulation, Infrastructure Finance, Corporate Finance

Country or region: Asia Pacific (Overall)

Policy uncertainty has a strong negative effect on stock market liquidity, as investors hold back on trading risk-sensitive securities during periods of uncertainty. The paper explores three factors affecting liquidity: information asymmetry, cash flow risk and funding constraints.  This paper has been submitted to the conference Politics, Stock Markets and the Economy, ......

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