Firm visibility, liquidity, and valuation for thinly traded assets

IF 4.6 Q2 MATERIALS SCIENCE, BIOMATERIALS
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引用次数: 0

Abstract

We employ a regression discontinuity design to study how a market division experiment affects stock liquidity and firm valuation in an illiquid market. We document that an increase in firm visibility can substantially improve a firm's liquidity (measured by trading immediacy) and increase valuation by 28.4% for thinly traded assets. We also find some evidence that an improved information environment may contribute to enhanced liquidity and valuation.

交易稀少资产的公司知名度、流动性和估值
我们采用回归不连续设计来研究市场划分实验如何影响非流动市场中的股票流动性和公司估值。我们发现,对于交易稀少的资产而言,公司知名度的提高可大幅改善公司的流动性(以交易即时性衡量),并将估值提高 28.4%。我们还发现一些证据表明,信息环境的改善可能有助于提高流动性和估值。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
ACS Applied Bio Materials
ACS Applied Bio Materials Chemistry-Chemistry (all)
CiteScore
9.40
自引率
2.10%
发文量
464
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