Market Liquidity: Asset Pricing, Risk, and Crises
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Book Overview
This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book...
Format:Paperback
Language:English
ISBN:0521139651
ISBN13:9780521139656
Release Date:November 2012
Publisher:Cambridge University Press
Length:292 Pages
Weight:0.85 lbs.
Dimensions:1.0" x 5.9" x 8.9"
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