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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.date.available2016-02-09T00:25:11Z
dc.date.issued2015-03-01
dc.identifier.urihttp://hdl.handle.net/10784/7974
dc.description.abstractMarket microstructure models imply that informed trading reduces liquidity. We test for the effect of the frequency of new releases, as a proxy of information arrival, on liquidity in the Chilean stock market. We find that news release frequency is strongly related to improved liquidity. Those results appear for both negative a positive news days and are robust using four different measures of liquidity: bid-ask spread, Amihud measure and two versions of the Zero trading variable. We also find evidence consistent with visibility and information arrival interacting for enhancing liquidity.spa
dc.language.isoengspa
dc.publisherUniversidad EAFITspa
dc.titleDo news improve liquidity through improved information or visibility? Evidence from Emerging Markets.spa
dc.typeworkingPaperspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccessspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.type.localDocumento de trabajo de investigaciónspa
dc.subject.keywordInformed tradingspa
dc.subject.keywordliquidityspa
dc.subject.keywordnewsspa
dc.subject.keywordemerging marketsspa
dc.subject.keywordmarket microstructurespa
dc.rights.localAcceso abiertospa
dc.date.accessioned2016-02-09T00:25:11Z
dc.type.hasVersiondraftspa
dc.identifier.jelG10
dc.identifier.jelG15
dc.identifier.jelG19
dc.contributor.authorAgudelo, Diego A.
dc.contributor.authorCortes, Lina M.
dc.contributor.authorVasco, Mateo


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