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Full-Text Articles in Finance and Financial Management
Liquidity And Crises In Asian Equity Markets, Charlie Charoenwong, David K. Ding, Yung Chiang Yang
Liquidity And Crises In Asian Equity Markets, Charlie Charoenwong, David K. Ding, Yung Chiang Yang
Research Collection Lee Kong Chian School Of Business
This article presents a discussion of stock market liquidity and its relation to financial crises. It begins by defining liquidity and explaining possible measures of liquidity and then explores factors influencing liquidity. It also analyzes the liquidity among 11 Asian countries. The empirical findings based on the time-series analysis show a sharp decline in stock liquidity during both the 1997-1998 Asian and the recent 2007-2008 global financial crisis. The multivariate regression results show that both stock liquidity and trading activity decrease after large market declines. Stock liquidity responds significantly to large market declines in South Korea and Taiwan whereas it …
The Response Of Commercial Banks To Credit Stimuli, Denise Williams Streeter
The Response Of Commercial Banks To Credit Stimuli, Denise Williams Streeter
Theses and Dissertations in Business Administration
This dissertation calls upon the theory of financial intermediation (Diamond and Dybvig, 1983) and the credit channel theory of monetary policy effectiveness (Bernanke and Gertler, 1995) to show how commercial banks responded to the trillions of dollars of innovations to stimulate the credit markets during the 2008 global financial crisis. Specifically, loan-level data is used to conduct univariate, regression, and event-study analyses to address the research question of, "Did United States- and European Union-based commercial banks respond to credit stimuli with increased commercial lending during the stimulus period of October 1, 2007 through September 30, 2011 when compared to the …