Ramiro Nicolás Cabezas Tejerina Medical assistant Santa Cruz de la Sierra Platinum Care Management, +3 more Universidad Anáhuac Mexico Norte, +1 more
Day: May 30, 2026
This paper tests the relation between expected excess stock returns and illiquidity risk in international markets. By conducting panel regressions on monthly data of the G7 markets for the period January 1990 through March 2009, we find evidence that excess stock returns are positively correlated with market illiquidity risk but are negatively associated with the innovation of firm-level …
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