Firm disclosures often reach only a portion of investors, which results in information
asymmetry among investors and, therefore, lower market liquidity. This issue is particularly …

We investigate the empirical relation between corporate governance and stock market
liquidity. We find that firms with better corporate governance have narrower spreads, higher …

We examine the relation between the gender diversity on boards of corporations and the
levels of information asymmetry in the stock market. Prior evidence suggests that the …

We assess the market microstructure properties of US banking firms' equity, to determine
whether they exhibit more or less evidence of asset opaqueness than similar-sized …

In 2009, the SEC mandated that financial statements be filed using eXtensible Business
Reporting Language (XBRL). The SEC contends that this new search-facilitating technology …

Prior studies, such as Claessens et al.'s [Claessens, S., Djankov, S., Fan, J., Lang, L., 2002.
Disentangling the incentive and entrenchment effects of large shareholding. Journal of …

Abstract The Securities and Exchange Commission (SEC) reviews company filings (10‐Q,
10‐K, S‐1, etc.) submitted to them. If a review identifies potential deficiencies, the SEC staff …

Prior results from the labor relations literature suggest that revealing information weakens
management's position in collective bargaining. Thus, when facing organized labor …

ABSTRACT I show that the inventory risk faced by market‐makers has a first‐order effect on
option prices. I introduce a simple approach that decomposes the price impact of trades into …

This paper sets out to investigate the effects of disclosure, and other corporate governance
mechanisms, on equity liquidity, arguing that those companies adopting poor information …