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- Publisher Website: 10.1016/j.jacceco.2011.03.004
- Scopus: eid_2-s2.0-83355163489
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Article: The effect of information quality on liquidity risk
| Title | The effect of information quality on liquidity risk |
|---|---|
| Authors | |
| Keywords | Cost of capital Disclosure Earnings quality Information quality Liquidity risk |
| Issue Date | 2011 |
| Citation | Journal of Accounting and Economics, 2011, v. 52, n. 2-3, p. 126-143 How to Cite? |
| Abstract | I investigate whether information quality affects the cost of equity capital through liquidity risk. Liquidity risk is the sensitivity of stock returns to unexpected changes in market liquidity; recent asset pricing literature has emphasized the importance of this systematic risk. I find that higher information quality is associated with lower liquidity risk and that the reduction in cost of capital due to this association is economically significant. I also find that the negative association between information quality and liquidity risk is stronger in times of large shocks to market liquidity. © 2011 Elsevier B.V. |
| Persistent Identifier | http://hdl.handle.net/10722/315223 |
| ISSN | 2023 Impact Factor: 5.4 2023 SCImago Journal Rankings: 8.337 |
| ISI Accession Number ID |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Ng, Jeffrey | - |
| dc.date.accessioned | 2022-08-05T10:18:07Z | - |
| dc.date.available | 2022-08-05T10:18:07Z | - |
| dc.date.issued | 2011 | - |
| dc.identifier.citation | Journal of Accounting and Economics, 2011, v. 52, n. 2-3, p. 126-143 | - |
| dc.identifier.issn | 0165-4101 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/315223 | - |
| dc.description.abstract | I investigate whether information quality affects the cost of equity capital through liquidity risk. Liquidity risk is the sensitivity of stock returns to unexpected changes in market liquidity; recent asset pricing literature has emphasized the importance of this systematic risk. I find that higher information quality is associated with lower liquidity risk and that the reduction in cost of capital due to this association is economically significant. I also find that the negative association between information quality and liquidity risk is stronger in times of large shocks to market liquidity. © 2011 Elsevier B.V. | - |
| dc.language | eng | - |
| dc.relation.ispartof | Journal of Accounting and Economics | - |
| dc.subject | Cost of capital | - |
| dc.subject | Disclosure | - |
| dc.subject | Earnings quality | - |
| dc.subject | Information quality | - |
| dc.subject | Liquidity risk | - |
| dc.title | The effect of information quality on liquidity risk | - |
| dc.type | Article | - |
| dc.description.nature | link_to_subscribed_fulltext | - |
| dc.identifier.doi | 10.1016/j.jacceco.2011.03.004 | - |
| dc.identifier.scopus | eid_2-s2.0-83355163489 | - |
| dc.identifier.volume | 52 | - |
| dc.identifier.issue | 2-3 | - |
| dc.identifier.spage | 126 | - |
| dc.identifier.epage | 143 | - |
| dc.identifier.isi | WOS:000297887400002 | - |