Liquidity and Asset Prices download ebook
Liquidity and Asset Prices download ebook

Liquidity and Asset Prices by Yakov Amihud
Liquidity and Asset Prices
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Author: Yakov Amihud
Number of Pages: 108 pages
Published Date: 30 Dec 2005
Publisher: Now Publishers Inc
Publication Country: Hanover, United States
Language: English
ISBN: 9781933019123
Download Link: Liquidity and Asset Prices
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Liquidity and Asset Prices reviews the literature that studies the relationship between liquidity and asset prices. The authors review the theoretical literature that predicts how liquidity affects a security's required return and discuss the empirical connection between the two. Liquidity and Asset Prices surveys the theory of liquidity-based asset pricing followed by the empirical evidence. The theory section proceeds from basic models with exogenous holding periods to those that incorporate additional elements of risk and endogenous holding periods. The empirical section reviews the evidence on the liquidity premium for stocks, bonds, and other financial assets.

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