Liquidity: Urban Versus Rural Firms

By Tim Loughran, Paul H. Schultz. 2005

382 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d86c1b5276a288d803c262dd086c73a52f255d8e

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Citations in the corpus

Religion, Gambling Attitudes and Corporate Innovation (2016, neutral): “All of these suggestive depictions are later confirmed by more rigorous analysis and stand up to 4 See, e.g., Coval and Moskowitz (1999), Loughran and Schultz (2005), Pirinsky and Wang (2006), Hilary and Hui (2009), and Becker, Ivković…”
Does Information Asymmetry Matter to Equity Pricing? Evidence from Firms’ Geographic Location (2010, positive): “Consistent with Malloy (2005), Loughran and Schultz (2005), and Loughran (2008), we find that remotely located firms have lower institutional ownership, lesser analyst coverage, and less liquid stocks than firms located in central areas, irrespective of whether we measure distance”
Sudden Deaths: Taking Stock of Geographic Ties (2007, background): “…a similar strong bias for locally (e.g., same city) headquartered firms, and that investors tend to hold stocks of firms that serve the area in which investors reside.7 Additionally, Loughran and Schultz (2004) show that stock trading is localized in the city where the company is headquartered.”
The Impact of Firm Location on Equity Issuance (2008, background): “Consistent with this, Loughran and Schultz (2005) and Malloy (2005) report that investment bankers provide less analyst coverage for rural firms than similar urban companies.”
Religious Social Norms and Corporate Financial Reporting (2012, positive): “First, Loughran and Schultz (2005) find that firms in urban areas exhibit higher levels of liquidity, presumably because information about the firm is easier to obtain relative to rural firms.”
The Impact of Religion on Financial Reporting Irregularities (2012, positive): “Loughran and Schulz (2005) define urban areas as the ten most populated metropolitan areas, which reduces our sample by approximately 50 percent.”
Corporate Environmental Responsibility in Polluting Industries: Does Religion Matter? (2013, methodology): “Finally, following previous studies (Hilary and Hui 2009; Du 2012; Loughran and Schultz 2005; Loughran 2007; El Ghoul et al. 2012b), we conduct an additional test using panel data to address concerns about potential endogeneity between Buddhism and CER.”
Media Makes Momentum (2014, background): “…trading action of local investors has been shown to affect economic aggregates such as the turnover of local stocks (e.g. Jacobs and Weber (2012), Loughran and Schultz (2005)), their valuations (e.g. Hong, Kubik, and Stein (2008)), and their returns (e.g. Kumar, Page, and Spalt (2011), Shive…”
Does Religion Matter to Equity Pricing? (2012, positive): “Endogeneity Issues In motivating our choice of test variables, we appeal to prior research linking geographic distance to economic outcomes that is rooted in the premise that corporate location decisions are exogenous (e.g., Loughran and Schultz 2005; Loughran 2007; John et al. 2011).”
Does Religion Mitigate Tunneling? Evidence from Chinese Buddhism (2014, background): “…or registered addresses are always likely exogenous and motivated by tax purposes, labor costs, production inputs, customers, and suppliers (Loughran and Schultz 2005; Loughran 2007; John T a b le 6 F u rt h er te st s u si n g o th er B u d d h is m v ar ia b le s b as ed o n d if fe…”