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Information Role of Liquidity
期數：第17卷 - 第3期
作者 / C.J. WANG 單位名稱 / Assistant Professor, Department of Finance, National Sun Yat-Sen University.
摘要 / This study examines the information role of liquidity by first showing that the trail of the two-stage valueupdating process of an individual security runs from the lagged liquidity return that cont...
liquidity，information asymmetry，bid-ask spread