Related Securities and Equity Market Quality: The Case of CDS
We document that equity markets become less liquid and equity prices become less efficient when markets for single-name credit default swap (CDS) contracts emerge. This finding is robust across a variety of market quality measures. We analyze the potential mechanisms driving this result and find evi...
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| Main Authors: | , , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2015
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| 主題: | |
| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/4788 https://ink.library.smu.edu.sg/context/lkcsb_research/article/5787/viewcontent/RelatedSecuritiesEquityMarketQuality_afv.pdf |
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