Investor Protection and Firm Liquidity

By P. Brockman, Dennis Chung. 2003

278 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c3fd8dae1a5b7a5d7088205d9fe43a70461200e0

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

Citations in the corpus

Corporate Governance and Liquidity (2010, unknown): “Brockman and Chung (2003) show that, among companies listed on the Stock Exchange of Hong Kong, those based in Hong Kong have narrower spreads and greater”
The Effect of Corporate Governance on Stock Liquidity: The Case of Thailand (2014, unknown): “Brockman and Chung (2003) document similar evidence between firms listed in Hong Kong and those listed in mainland China.”
Corporate Governance and Equity Liquidity: Analysis of S&P Transparency and Disclosure Rankings (2007, methodology): “Extending the prior research of Welker (1995) and Brockman and Chung (2003), this study uses the S&P T&D rankings as proxies for firms’ disclosure practices, arguing that the ranking could be an effective measure of the corporate governance and asymmetric information risk perceived by both market…”
Insider Trading in Credit Derivatives (2005, unknown): “…lowers liquidity and increases trading costs (Easley, Kiefer, O’Hara, Paperman (1996), Chun & Charoenwong (1998), Bettis, Coles & Lemmon (2000), Brockman & Chung (2003), and Fishe & Robe (2004), among others), that insider trading raises cost of equity capital (Bhattacharya & Daouk (2002)),…”
Do controlling shareholders' expropriation incentives imply a link between corporate governance and firm value? Theory and evidence (2012, background): “In contrast, poor investor protection increases liquidity costs (Brockman and Chung, 2003), and impedes informed arbitrage that capitalizes on firmspecific information, thereby resulting in less efficient stock prices (Morck, Yeung, and Yu, 2000).”
The world price of liquidity risk (2011, unknown): “In the study of world market liquidity, earlier research has primarily focused on liquidity level (Rouwenhorst, 1999; Brockman and Chung, 2003; Chiyachantana, Jain, Jiang, and Wood, 2004; Lesmond, 2005; Eleswarapu and Venkataraman, 2006), while researchers have recently paid more attention to the sy”
The Impact of Legal and Political Institutions on Equity Trading Costs: A Cross-Country Analysis (2006, unknown): “Similarly, Brockman and Chung (2002) show that bid-ask spreads of China-based firms cross-listed on the Hong Kong exchange are wider than their matched pairs of Hong-Kong stocks.”
Effects of Large Shareholding on Information Asymmetry and Stock Liquidity (2006, unknown): “Also, Brockman and Chung (2003) find that weaker investor protection by regulators generates more severe information asymmetry, which in turn leads to poorer stock liquidity.”