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dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creatorAgudelo, Diego A.
dc.creatorArango, Ignacio
dc.date.available2018-11-10T19:01:58Z
dc.date.issued2018-11
dc.identifier.urihttp://hdl.handle.net/10784/13129
dc.description.abstractCross-sectional models positively relate firm information disclosure with stock liquidity, but dynamic models in news releases days show an opposite relation. We address this puzzle by studying the effects of information arrival on liquidity and its determinants. We use trade and quote data from Colombia for 2015 and 2016, along with the complete database of news releases as reported by companies to the regulator. The results of Panel data and PVAR models suggest that news releases increase both informed and uninformed trading. All in all, the temporal negative effect of news releases on liquidity is explained by increasing asymmetric information.spa
dc.language.isoengspa
dc.publisherUniversidad EAFITspa
dc.rightsinfo:eu-repo/semantics/openAccesseng
dc.titleHow does information disclosure affect liquidity? Evidence from an Emerging Marketspa
dc.typeworkingPaperspa
dc.rights.accessRightsopenAccessspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.type.spaDocumento de trabajo de investigaciónspa
dc.subject.keywordLiquidityspa
dc.subject.keywordAsymmetric Informationspa
dc.subject.keywordInformed Tradingspa
dc.subject.keywordNews releasesspa
dc.subject.keywordEmerging Markettsspa
dc.rights.accesoLibre accesospa
dc.date.accessioned2018-11-10T19:01:58Z
dc.type.hasVersiondraftspa
dc.contributor.eafitauthoriarang14@eafit.edu.cospa
dc.contributor.eafitauthordagudelo@eafit.edu.cospa
dc.identifier.jelG10
dc.identifier.jelG15
dc.identifier.jelG19


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