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Charles A. Trzcinka

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Jarl G. Kallberg & Crocker H. Liu & Charlese Trzcinka, 1999. "The Value Added from Investment Managers: an Examination of Funds of REITs," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-080, New York University, Leonard N. Stern School of Business-.

    Cited by:

    1. Hong Wang & Yining Sun & Yin Chen, 2009. "Special considerations for designing pilot REITs in China," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 27(2), pages 140-161, March.
    2. Wen-Hsiu Chou & William Hardin, 2014. "Performance Chasing, Fund Flows and Fund Size in Real Estate Mutual Funds," The Journal of Real Estate Finance and Economics, Springer, vol. 49(3), pages 379-412, October.
    3. Dirk Brounen & Piet Eichholtz & David Ling, 2007. "Trading Intensity and Real Estate Performance," The Journal of Real Estate Finance and Economics, Springer, vol. 35(4), pages 449-474, November.
    4. S. Price & Jesus Salas & C. Sirmans, 2015. "Governance, Conference Calls and CEO Compensation," The Journal of Real Estate Finance and Economics, Springer, vol. 50(2), pages 181-206, February.
    5. Steffen Westermann & Scott J. Niblock & Michael A. Kortt, 2018. "A Review of Corporate Social Responsibility and Real Estate Investment Trust Studies: An Australian Perspective," Economic Papers, The Economic Society of Australia, vol. 37(1), pages 92-110, March.
    6. Claudio Giannotti & Gianluca Mattarocci, 2013. "The Role of Risk Measures Choices in Ranking Real Estate Funds: Evidence from the Italian Market," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Alessandro Carretta & Gianluca Mattarocci (ed.), Asset Pricing, Real Estate and Public Finance over the Crisis, chapter 10, pages 165-189, Palgrave Macmillan.
    7. Arif, Imtiaz & Jawaid, Tehseen, 2011. "Effect of Fund Managers' Characteristics on Mutual Funds Performance and Fee in Emerging Market of Paksitan," MPRA Paper 58936, University Library of Munich, Germany.
    8. Viktoriya Lantushenko & Edward Nelling, 2020. "Active Management in Real Estate Mutual Funds," The Journal of Real Estate Finance and Economics, Springer, vol. 61(2), pages 247-274, August.
    9. Armonat, Stefan & Pfnür, Andreas, 2002. "Basel II and the German credit crunch?," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 35585, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    10. Kallberg, Jarl & Liu, Crocker H. & Pasquariello, Paolo, 2008. "Updating expectations: An analysis of post-9/11 returns," Journal of Financial Markets, Elsevier, vol. 11(4), pages 400-432, November.
    11. Kevin Chiang, 2009. "Discovering REIT Price Discovery: A New Data Setting," The Journal of Real Estate Finance and Economics, Springer, vol. 39(1), pages 74-91, July.
    12. Ming-Yu Liu & Chiuling Lu, 2020. "The Continuing Overreaction in the REIT Market," The Journal of Real Estate Finance and Economics, Springer, vol. 61(1), pages 129-149, June.
    13. Jianhua Gang & Liang Peng & Thomas G. Thibodeau, 2020. "Risk and Returns of Income Producing Properties: Core versus Noncore," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(2), pages 476-503, June.
    14. SeungHan Ro & Paul Gallimore, 2014. "Real Estate Mutual Funds: Herding, Momentum Trading and Performance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 190-222, March.
    15. Steffen Westermann & Scott Niblock & Michael Kortt, 2018. "Corporate social responsibility and the performance of Australian REITs: a rolling regression approach," Journal of Asset Management, Palgrave Macmillan, vol. 19(4), pages 222-234, July.
    16. George O. Aragon & Ji-Woong Chung & Byoung Uk Kang, 2023. "Do Prime Brokers Matter in the Search for Informed Hedge Fund Managers?," Management Science, INFORMS, vol. 69(8), pages 4932-4952, August.
    17. Jay C. Hartzell & Jarl G. Kallberg & Crocker H. Liu, 2008. "The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts," Journal of Law and Economics, University of Chicago Press, vol. 51(3), pages 539-562, August.
    18. J. Sa‐Aadu & James Shilling & Ashish Tiwari, 2010. "On the Portfolio Properties of Real Estate in Good Times and Bad Times1," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(3), pages 529-565, September.
    19. Eli Beracha & George D. Cashman & Hilla Skiba, 2021. "Specialization and Institutional Investors’ Performance – Evidence from Publicly Traded Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 62(1), pages 48-80, January.
    20. Yang-pin Shen & Chiuling Lu & Zong-Han Lin, 2012. "International Real Estate Mutual Fund Performance: Diversification or Costly Information?," The Journal of Real Estate Finance and Economics, Springer, vol. 44(3), pages 394-413, April.
    21. Andonov, Aleksandar & Eichholtz, Piet & Kok, Nils, 2015. "Intermediated investment management in private markets: Evidence from pension fund investments in real estate," Journal of Financial Markets, Elsevier, vol. 22(C), pages 73-103.
    22. Abhay Kaushik & Anita K. Pennathur, 2013. "Performance And New Money Cash Flows In Real Estate Mutual Funds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(4), pages 453-470, December.
    23. Bryan D. MacGregor & Rainer Schulz & Yuan Zhao, 2021. "Performance and Market Maturity in Mutual Funds: Is Real Estate Different?," The Journal of Real Estate Finance and Economics, Springer, vol. 63(3), pages 437-492, October.
    24. George D. Cashman & David M. Harrison & Christine A. Panasian, 2016. "Clawback Provisions In Real Estate Investment Trusts," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 39(1), pages 87-114, March.
    25. Dan W. French & S. McKay Price, 2018. "Depreciation-Related Capital Gains, Differential Tax Rates, and the Market Value of Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 57(1), pages 43-63, July.
    26. Shaun Bond & Paul Mitchell, 2010. "Alpha and Persistence in Real Estate Fund Performance," The Journal of Real Estate Finance and Economics, Springer, vol. 41(1), pages 53-79, July.
    27. Michael Devaney & William Weber, 2005. "Efficiency, Scale Economies, and the Risk/Return Performance of Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 31(3), pages 301-317, November.
    28. Arjun Chatrath & Rohan A. Christie-David & Sanjay Ramchander, 2012. "Public Information, REIT Responses, Size, Leverage, and Focus," Journal of Real Estate Research, American Real Estate Society, vol. 34(4), pages 463-514.
    29. Jay C. Hartzell & Tobias Mühlhofer & Sheridan D. Titman, 2010. "Alternative Benchmarks for Evaluating Mutual Fund Performance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(1), pages 121-154, March.
    30. Yuan Zhao & Bryan D. Macgregor & Rainer Schulz, 2013. "Can US Real Estate Mutual Funds Beat the Market? New Evidence," ERES eres2013_335, European Real Estate Society (ERES).
    31. Elyasiani, Elyas & Rytchkov, Oleg & Stetsyuk, Ivan, 2022. "Do real estate mutual fund managers create value?," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 396-406.
    32. Liu Xiaoxin & Wu Di & Li Xiuting & Dong Jichang, 2013. "Financing of Low-Rent Housing REITs in China," Journal of Systems Science and Information, De Gruyter, vol. 1(1), pages 1-21, February.

  2. J.B. Chay & Charles Trzcinka, 1997. "Managerial Performance and the Cross-Sectional Pricing of Closed-End Funds," New York University, Leonard N. Stern School Finance Department Working Paper Seires 96-20, New York University, Leonard N. Stern School of Business-.

    Cited by:

    1. Lenkey, Stephen L., 2015. "The closed-end fund puzzle: Management fees and private information," Journal of Financial Intermediation, Elsevier, vol. 24(1), pages 112-129.
    2. Nai Jia Lee & Tien Foo Sing & Dinh Hoang Tran, 2013. "REIT Share Price and NAV Deviations: Noise or Sentiment?," International Real Estate Review, Global Social Science Institute, vol. 16(1), pages 28-47.
    3. Korkie, Bob & Nakamura, Mansao & Turtle, Harry J., 2001. "A contingent claim analysis of closed-end fund premia," International Review of Financial Analysis, Elsevier, vol. 10(4), pages 365-394.
    4. Wu, Youchang & Wermers, Russ & Zechner, Josef, 2012. "Governance and shareholder value in delegated portfolio management: The case of closed-end funds," CFR Working Papers 12-11, University of Cologne, Centre for Financial Research (CFR).
    5. Souther, Matthew E., 2016. "The effects of takeover defenses: Evidence from closed-end funds," Journal of Financial Economics, Elsevier, vol. 119(2), pages 420-440.
    6. Jonathan Berk & Richard Stanton, 2004. "A Rational Model of the Closed-End Fund Discount," NBER Working Papers 10412, National Bureau of Economic Research, Inc.
    7. Youchang Wu & Russ Wermers & Josef Zechner, 2016. "Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds," The Review of Financial Studies, Society for Financial Studies, vol. 29(12), pages 3428-3470.
    8. Jacobs, Heiko, 2015. "What explains the dynamics of 100 anomalies?," Journal of Banking & Finance, Elsevier, vol. 57(C), pages 65-85.
    9. Sebastian Schnejdar & Michael Heinrich & René-Ojas Woltering & Steffen Sebastian, 2020. "The Discount to NAV of Distressed Open-End Real Estate Funds," The Journal of Real Estate Finance and Economics, Springer, vol. 61(1), pages 80-114, June.
    10. Salmon, Mark & Gemmill, Gordon T & Hwang, Soosung, 2005. "Performance Measurement with Loss Aversion," CEPR Discussion Papers 5173, C.E.P.R. Discussion Papers.
    11. Groh, Alexander P., 2004. "Risikoadjustierte Performance von Private Equity-Investitionen," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 21382, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    12. Stylianos X. Koufadakis, 2015. "Asymmetries on Closed End Country Funds Premium and Monetary Policy Announcements: An Approach Trough the Perspective of Foreign Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(3-4), pages 29-65, july-Dece.
    13. Flynn, Sean M., 2005. "Noise-trader Risk: Does it Deter Arbitrage, and Is it Priced?," Vassar College Department of Economics Working Paper Series 69, Vassar College Department of Economics.
    14. Johnson, Shane A. & Lin, Ji-Chai & Roy Song, Kyojik, 2006. "Dividend policy, signaling, and discounts on closed-end funds," Journal of Financial Economics, Elsevier, vol. 81(3), pages 539-562, September.
    15. Jay Wang, Z. & Nanda, Vikram, 2011. "Payout policies and closed-end fund discounts: Signaling, agency costs, and the role of institutional investors," Journal of Financial Intermediation, Elsevier, vol. 20(4), pages 589-619, October.
    16. Kim, Doseong & Kim, Yura & Song, Kyojik Roy, 2013. "Payout policies on U.S. closed-end funds," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 345-356.
    17. Iuliana Ismailescu, 2008. "Determinants of the Time-Variation in Emerging-Market Closed-End Fund Premiums: A Comparison between Equity and Bond Funds," The American Economist, Sage Publications, vol. 52(2), pages 54-64, October.
    18. Kim, Youngsoo & Lee, Bong Soo, 2007. "Limited participation and the closed-end fund discount," Journal of Banking & Finance, Elsevier, vol. 31(2), pages 381-399, February.
    19. Michael Bleaney & R. Todd Smith, 2010. "Is prior performance priced through closed-end fund discounts?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 15(2), pages 153-164.
    20. William M. Gentry & Charles M. Jones & Christopher J. Mayer, 2004. "Do Stock Prices Really Reflect Fundamental Values? The Case of REITs," NBER Working Papers 10850, National Bureau of Economic Research, Inc.
    21. Naka, Atsuyuki & Noman, Abdullah, 2017. "Diversification of risk exposure through country mutual funds under alternative investment opportunities," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 215-227.
    22. Wermers, Russ & Wu, Youchang & Zechner, Josef, 2006. "Portfolio performance, discount dynamics, and the turnover of closed-end fund managers," CFR Working Papers 06-12, University of Cologne, Centre for Financial Research (CFR).
    23. Stylianos X. Koufadakis, 2016. "Mispricing Explanations of Closed-End Funds: A Survey Review," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(1-2), pages 108-135, January-J.
    24. Gabriel Frahm & Alexander Jonen & Rainer Schüssler, 2019. "The Fundamental Theorems Of Asset Pricing And The Closed-End Fund Puzzle," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 22(05), pages 1-31, August.
    25. Lahr, Henry & Kaserer, Christoph, 2009. "Net asset value discounts in listed private equity funds," CEFS Working Paper Series 2009-12, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).

Articles

  1. Jung Hoon Lee & Charles Trzcinka & Shyam Venkatesan, 2019. "Do Portfolio Manager Contracts Contract Portfolio Management?," Journal of Finance, American Finance Association, vol. 74(5), pages 2543-2577, October.

    Cited by:

    1. Servaes, Henri & Sigurdsson, Kari, 2022. "The Costs and Benefits of Performance Fees in Mutual Funds," Journal of Financial Intermediation, Elsevier, vol. 50(C).
    2. Li, C. Wei & Tiwari, Ashish & Tong, Lin, 2022. "Mutual fund tournaments and fund Active Share," Journal of Financial Stability, Elsevier, vol. 63(C).
    3. Cui, Xuegang & Feltovich, Nick & Zhang, Kun, 2022. "Incentive schemes, framing, and market behaviour: Evidence from an asset-market experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 301-324.
    4. Sheng, Jiliang & Xu, Si & An, Yunbi & Yang, Jun, 2021. "Dynamic portfolio strategy by loss-averse fund managers facing performance-induced fund flows," International Review of Financial Analysis, Elsevier, vol. 73(C).

  2. Ranadeb Chaudhuri & Zoran Ivković & Charles Trzcinka, 2018. "Cross-Subsidization in Institutional Asset Management Firms," The Review of Financial Studies, Society for Financial Studies, vol. 31(2), pages 638-677.

    Cited by:

    1. Hendriock, Mario, 2020. "Implied cost of capital and mutual fund performance," CFR Working Papers 20-11, University of Cologne, Centre for Financial Research (CFR).
    2. Azi Ben-Rephael & Ryan D Israelsen, 2018. "Are Some Clients More Equal Than Others? An Analysis of Asset Management Companies’ Execution Costs [An analysis of trade-size clustering and its relation to stealth trading]," Review of Finance, European Finance Association, vol. 22(5), pages 1705-1736.
    3. Kräussl, Roman & Rinne, Kalle & Sunc, Huizhu, 2023. "Does family matter? Venture capital cross-fund cash flows," CFS Working Paper Series 695, Center for Financial Studies (CFS).
    4. Wang, Xiaoxiao, 2023. "Bank affiliation and mutual funds’ trading strategy distinctiveness," International Review of Financial Analysis, Elsevier, vol. 88(C).

  3. Kingsley Y. L. Fong & Craig W. Holden & Charles A. Trzcinka, 2017. "What Are the Best Liquidity Proxies for Global Research?," Review of Finance, European Finance Association, vol. 21(4), pages 1355-1401.

    Cited by:

    1. Butt, Hilal Anwar & Virk, Nader Shahzad, 2019. "Market downturns, zero investment strategies and systematic liquidity risk," Finance Research Letters, Elsevier, vol. 28(C), pages 246-253.
    2. Ruenzi, Stefan & Ungeheuer, Michael & Weigert, Florian, 2020. "Joint extreme events in equity returns and liquidity and their cross-sectional pricing implications," CFR Working Papers 20-01, University of Cologne, Centre for Financial Research (CFR).
    3. Samarasinghe, Ama & Uylangco, Katherine, 2021. "An examination of the effect of stock market liquidity on bank market power," International Review of Financial Analysis, Elsevier, vol. 77(C).
    4. Damien KUNJAL, 2023. "The Role of Investor Attention in ETF Liquidity," Journal of Economics and Financial Analysis, Tripal Publishing House, vol. 7(2), pages 45-64.
    5. Ignacio Arango & Diego A. Agudelo, 2017. "How does information disclosure affect liquidity?Evidence from an Emerging Market," Documentos de Trabajo de Valor Público 16990, Universidad EAFIT.
    6. Samarasinghe, Ama, 2023. "Stock market liquidity and bank stability," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    7. Wang, Zijun, 2021. "The high volume return premium and economic fundamentals," Journal of Financial Economics, Elsevier, vol. 140(1), pages 325-345.
    8. Cakici, Nusret & Zaremba, Adam, 2023. "Recency bias and the cross-section of international stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    9. Robert Stoumbos, 2023. "The Growth of Information Asymmetry Between Earnings Announcements and Its Implications for Reporting Frequency," Management Science, INFORMS, vol. 69(3), pages 1901-1928, March.
    10. Cakici, Nusret & Zaremba, Adam, 2022. "Salience theory and the cross-section of stock returns: International and further evidence," Journal of Financial Economics, Elsevier, vol. 146(2), pages 689-725.
    11. Lim, Kian-Ping & Thian, Tze-Chung & Hooy, Chee-Wooi, 2017. "Investor heterogeneity, trading account types and competing liquidity channels for Malaysian stocks," Research in International Business and Finance, Elsevier, vol. 41(C), pages 220-234.
    12. Roy, Partha P. & Rao, Sandeep & Zhu, Min, 2022. "Mandatory CSR expenditure and stock market liquidity," Journal of Corporate Finance, Elsevier, vol. 72(C).
    13. An, Jiyoun & Ho, Kin-Yip & Zhang, Zhaoyong, 2020. "What drives the liquidity premium in the Chinese stock market?," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    14. Kornelia Fabisik & Rüdiger Fahlenbrach & René M. Stulz & Jérôme P. Taillard, 2018. "Why are Firms with More Managerial Ownership Worth Less?," NBER Working Papers 25352, National Bureau of Economic Research, Inc.
    15. Leszek Borowiec & Marzena Kacprzak & Agnieszka Król, 2023. "Information Value of Individual and Consolidated Financial Statements for Indicative Liquidity Assessment of Polish Energy Groups in 2018–2021," Energies, MDPI, vol. 16(9), pages 1-16, April.
    16. Będowska-Sójka, Barbara, 2018. "The coherence of liquidity measures. The evidence from the emerging market," Finance Research Letters, Elsevier, vol. 27(C), pages 118-123.
    17. Just, Małgorzata & Echaust, Krzysztof, 2020. "Stock market returns, volatility, correlation and liquidity during the COVID-19 crisis: Evidence from the Markov switching approach," Finance Research Letters, Elsevier, vol. 37(C).
    18. Díaz, Antonio & Escribano, Ana, 2020. "Measuring the multi-faceted dimension of liquidity in financial markets: A literature review," Research in International Business and Finance, Elsevier, vol. 51(C).
    19. Guglielmo Maria Caporale & Woo-Young Kang & Fabio Spagnolo & Nicola Spagnolo, 2020. "Cyber-Attacks, Cryptocurrencies, and Cyber Security," CESifo Working Paper Series 8124, CESifo.
    20. Zhong, Meirui & Zhang, Rui & Ren, Xiaohang, 2023. "The time-varying effects of liquidity and market efficiency of the European Union carbon market: Evidence from the TVP-SVAR-SV approach," Energy Economics, Elsevier, vol. 123(C).
    21. Xu, Yanyan & Huang, Dengshi & Ma, Feng & Qiao, Gaoxiu, 2019. "Liquidity and realized range-based volatility forecasting: Evidence from China," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 525(C), pages 1102-1113.
    22. Liao, Cunfei & Luo, Qianlin & Tang, Guohao, 2021. "Aggregate liquidity premium and cross-sectional returns: Evidence from China," Economic Modelling, Elsevier, vol. 104(C).
    23. Syamala, Sudhakara Reddy & Wadhwa, Kavita & Goyal, Abhinav, 2017. "Determinants of commonality in liquidity: Evidence from an order-driven emerging market," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 38-52.
    24. Stereńczak, Szymon & Zaremba, Adam & Umar, Zaghum, 2020. "Is there an illiquidity premium in frontier markets?," Emerging Markets Review, Elsevier, vol. 42(C).
    25. Johannes Ruf & Kangjianan Xie, 2019. "The impact of proportional transaction costs on systematically generated portfolios," Papers 1904.08925, arXiv.org.
    26. Auer, Benjamin R. & Rottmann, Horst, 2018. "Have capital market anomalies worldwide attenuated in the recent era of high liquidity and trading activity?," Weidener Diskussionspapiere 64, University of Applied Sciences Amberg-Weiden (OTH).
    27. Zhao, Wandi & Gao, Yang & Wang, Mingjin, 2022. "Measuring liquidity with return volatility: An analytical approach based on heavy-tailed Censored-GARCH model," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    28. Kuntal K. Das & Mona Yaghoubi, 2022. "Stock Liquidity and Firm-Level Political Risk," Working Papers in Economics 22/18, University of Canterbury, Department of Economics and Finance.
    29. He Xiao, 2022. "How does air pollution affect corporate information environment?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(4), pages 987-1016, December.
    30. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "More shareholders, higher liquidity? Evidence from an emerging stock market," Emerging Markets Review, Elsevier, vol. 44(C).
    31. Wang, Andong & Hudson, Robert & Rhodes, Mark & Zhang, Sijia & Gregoriou, Andros, 2021. "Stock liquidity and return distribution: Evidence from the London Stock Exchange," Finance Research Letters, Elsevier, vol. 39(C).
    32. Pham, Mia Hang, 2020. "In law we trust: Lawyer CEOs and stock liquidity," Journal of Financial Markets, Elsevier, vol. 50(C).
    33. Langlois, Hugues, 2023. "What matters in a characteristic?," Journal of Financial Economics, Elsevier, vol. 149(1), pages 52-72.
    34. Lof, Matthijs & Bommel, Jos van, 2018. "Asymmetric information and the distribution of trading volume," Bank of Finland Research Discussion Papers 1/2018, Bank of Finland.
    35. Liew, Ping-Xin & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "Does proprietary day trading provide liquidity at a cost to investors?," International Review of Financial Analysis, Elsevier, vol. 68(C).
    36. Marshall, Ben R. & Nguyen, Nhut H. & Visaltanachoti, Nuttawat, 2018. "Do liquidity proxies measure liquidity accurately in ETFs?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 94-111.
    37. Múnera, Daimer J. & Agudelo, Diego A., 2022. "Who moved my liquidity? Liquidity evaporation in emerging markets in periods of financial uncertainty," Journal of International Money and Finance, Elsevier, vol. 129(C).
    38. Zeynep Cobandag Guloglu & Cumhur Ekinci, 2022. "Liquidity measurement: A comparative review of the literature with a focus on high frequency," Journal of Economic Surveys, Wiley Blackwell, vol. 36(1), pages 41-74, February.
    39. Aman, Hiroyuki & Beekes, Wendy & Berkman, Henk & Bohmann, Marc & Bradbury, Michael & Chapple, Larelle & Chang, Millicent & Clout, Victoria & Faff, Robert & Han, Jianlei & Hillier, David & Hodgson, All, 2019. "Responsible science: Celebrating the 50-year legacy of Ball and Brown (1968) using a registration-based framework," Pacific-Basin Finance Journal, Elsevier, vol. 56(C), pages 129-150.
    40. Nagar, Venky & Schoenfeld, Jordan & Wellman, Laura, 2019. "The effect of economic policy uncertainty on investor information asymmetry and management disclosures," Journal of Accounting and Economics, Elsevier, vol. 67(1), pages 36-57.
    41. Eaton, Gregory W. & Irvine, Paul J. & Liu, Tingting, 2021. "Measuring institutional trading costs and the implications for finance research: The case of tick size reductions," Journal of Financial Economics, Elsevier, vol. 139(3), pages 832-851.
    42. Yashar H Barardehi & Dan Bernhardt & Thomas G Ruchti & Marc Weidenmier, 2021. "The Night and Day of Amihud’s (2002) Liquidity Measure [Asset pricing with liquidity risk]," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 11(2), pages 269-308.
    43. Białkowski, Jędrzej & Yaghoubi, Mona, 2021. "The Ramadan effect: A standalone anomaly or just a compensation for low liquidity?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
    44. Greppmair, Stefan & Theissen, Erik, 2019. "Small is beautiful? How the introduction of mini futures contracts affects the regular contract," CFR Working Papers 19-06, University of Cologne, Centre for Financial Research (CFR).
    45. Zadeh, Mohammad Hendijani, 2023. "Stock liquidity and societal trust," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    46. Shang, Chenguang, 2020. "Trade credit and stock liquidity," Journal of Corporate Finance, Elsevier, vol. 62(C).
    47. Xiao, He, 2022. "Environmental regulation and firm capital structure dynamics," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 770-787.
    48. Brauneis, Alexander & Mestel, Roland & Theissen, Erik, 2021. "What drives the liquidity of cryptocurrencies? A long-term analysis," Finance Research Letters, Elsevier, vol. 39(C).
    49. Chen, Yong & Eaton, Gregory W. & Paye, Bradley S., 2018. "Micro(structure) before macro? The predictive power of aggregate illiquidity for stock returns and economic activity," Journal of Financial Economics, Elsevier, vol. 130(1), pages 48-73.
    50. Stefano Lovo & Philippe Raimbourg & Federica Salvadè, 2022. "Credit Rating Agencies, Information Asymmetry and US Bond Liquidity," Working Papers hal-03890565, HAL.
    51. Hanauer, Matthias X. & Kalsbach, Tobias, 2023. "Machine learning and the cross-section of emerging market stock returns," Emerging Markets Review, Elsevier, vol. 55(C).
    52. Langedijk, Sven & Monokroussos, George & Papanagiotou, Evangelia, 2018. "Benchmarking liquidity proxies: The case of EU sovereign bonds," International Review of Economics & Finance, Elsevier, vol. 56(C), pages 321-329.
    53. Gaoxiu Qiao & Yangli Cao & Feng Ma & Weiping Li, 2023. "Liquidity and realized covariance forecasting: a hybrid method with model uncertainty," Empirical Economics, Springer, vol. 64(1), pages 437-463, January.
    54. Talie Kassamany & Bernard Zgheib, 2023. "Impact of government policy responses of COVID‐19 pandemic on stock market liquidity for Australian companies," Australian Economic Papers, Wiley Blackwell, vol. 62(1), pages 24-46, March.
    55. Vitor Azevedo & Georg Sebastian Kaiser & Sebastian Mueller, 2023. "Stock market anomalies and machine learning across the globe," Journal of Asset Management, Palgrave Macmillan, vol. 24(5), pages 419-441, September.
    56. Będowska-Sójka, Barbara & Kliber, Agata, 2021. "Information content of liquidity and volatility measures," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 563(C).
    57. Nguyen, Hung T. & Pham, Mia Hang & Truong, Cameron, 2023. "Leadership in a pandemic: Do more able managers keep firms out of trouble?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    58. Nguyen, Hung T. & Pham, Mia Hang, 2021. "Air pollution and behavioral biases: Evidence from stock market anomalies," Journal of Behavioral and Experimental Finance, Elsevier, vol. 29(C).
    59. Heidi Quah & Janto Haman & Dharmendra Naidu, 2021. "The effect of stock liquidity on investment efficiency under financing constraints and asymmetric information: Evidence from the United States," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 2109-2150, April.
    60. Boumediene Souiki & Françoise Seyte, 2024. "Liquidity on Eurozone stock markets: A non-linear approach," Economics Bulletin, AccessEcon, vol. 44(1), pages 321-340.
    61. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).
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    151. Andrei Dimcea, 2022. "Determinants of Stock Market Liquidity. The Quantifiable Effects of Psychic Distance Stimuli," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 14(2), pages 107-120, December.
    152. Będowska-Sójka, Barbara & Echaust, Krzysztof & Just, Małgorzata, 2022. "The asymmetry of the Amihud illiquidity measure on the European markets: The evidence from Extreme Value Theory," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
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  4. Chakrabarty, Bidisha & Moulton, Pamela C. & Trzcinka, Charles, 2017. "The Performance of Short-Term Institutional Trades," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 52(4), pages 1403-1428, August.

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    1. Gormley, Todd A. & Kaplan, Zachary & Verma, Aadhaar, 2022. "More informative disclosures, less informative prices? Portfolio and price formation around quarter-ends," Journal of Financial Economics, Elsevier, vol. 146(2), pages 665-688.
    2. Rösch, Dominik M. & Subrahmanyam, Avanidhar & van Dijk, Mathijs A., 2022. "Investor short-termism and real investment," Journal of Financial Markets, Elsevier, vol. 59(PB).
    3. Du, Brian & Serrano, Alejandro & Vianna, Andre, 2021. "Short-term institutions’ information advantage and overvaluation," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).
    4. Hu, Gang & Jo, Koren M. & Wang, Yi Alex & Xie, Jing, 2018. "Institutional trading and Abel Noser data," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 143-167.
    5. Chakravarty, Sugato & Ray, Rina, 2020. "On short-term institutional trading skill, behavioral biases, and liquidity need," Journal of Corporate Finance, Elsevier, vol. 65(C).
    6. Sakaki, Hamid & Jory, Surendranath & Jackson, Dave, 2021. "Institutional investors’ ownership stability and their investee firms’ equity mispricing," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    7. Neumeier, Christian & Gozluklu, Arie & Hoffmann, Peter & O’Neill, Peter & Suntheim, Felix, 2023. "Banning dark pools: Venue selection and investor trading costs," Journal of Financial Markets, Elsevier, vol. 65(C).
    8. Daniel Hoechle & Stefan Ruenzi & Nic Schaub & Markus Schmid, 2018. "Financial Advice and Bank Profits," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4447-4492.
    9. Chiyachantana, Chiraphol & Jain, Pankaj K. & Jiang, Christine & Sharma, Vivek, 2017. "Permanent price impact asymmetry of trades with institutional constraints," Journal of Financial Markets, Elsevier, vol. 36(C), pages 1-16.
    10. Jagannathan, Murali & Jiao, Wei & Karolyi, G. Andrew, 2022. "Is there a home field advantage in global markets?," Journal of Financial Economics, Elsevier, vol. 143(2), pages 742-770.
    11. Meng, Xiangcai & Huang, Chia-Hsing, 2021. "The time-frequency analysis of conventional and unconventional monetary policy: Evidence from Japan," Japan and the World Economy, Elsevier, vol. 59(C).

  5. David Feldman & Charles Trzcinka & Russell Winer, 2015. "Pricing under noisy signaling," Review of Quantitative Finance and Accounting, Springer, vol. 45(2), pages 435-454, August.

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    1. James Cicon, 2017. "Say it again Sam: the information content of corporate conference calls," Review of Quantitative Finance and Accounting, Springer, vol. 48(1), pages 57-81, January.
    2. Peter Seele & Claus Dierksmeier & Reto Hofstetter & Mario D. Schultz, 2021. "Mapping the Ethicality of Algorithmic Pricing: A Review of Dynamic and Personalized Pricing," Journal of Business Ethics, Springer, vol. 170(4), pages 697-719, May.
    3. C. Homburg & Julia Nasev & Philipp Plank, 2018. "The impact of cost allocation errors on price and product-mix decisions," Review of Quantitative Finance and Accounting, Springer, vol. 51(2), pages 497-527, August.

  6. Berzins, Janis & Liu, Crocker H. & Trzcinka, Charles, 2013. "Asset management and investment banking," Journal of Financial Economics, Elsevier, vol. 110(1), pages 215-231.

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    1. Haoyue Zhang & Dayong Lv & Wenfeng Wu, 2022. "Why do bank‐affiliated mutual funds perform better in China?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(5), pages 4755-4782, December.
    2. Alptekin, Aynur & Broadstock, David C. & Chen, Xiaoqi & Wang, Dong, 2019. "Time-varying parameter energy demand functions: Benchmarking state-space methods against rolling-regressions," Energy Economics, Elsevier, vol. 82(C), pages 26-41.
    3. Güner, Z. Nuray & Önder, Zeynep, 2022. "Bank affiliation and discounts on closed-end funds," International Review of Financial Analysis, Elsevier, vol. 83(C).
    4. Ranadeb Chaudhuri & Zoran Ivković & Joshua Pollet & Charles Trzcinka, 2020. "A Tangled Tale of Training and Talent: PhDs in Institutional Asset Management," Management Science, INFORMS, vol. 66(12), pages 5623-5647, December.
    5. Gajewski, Jean-François & Tran Dieu, Linh, 2021. "Determinants and performance of outsourcing in the european mutual fund market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
    6. Hyoseok (David) Hwang, 2019. "Informed Trading of Mutual Funds: Evidence from Fund‐Underwriter Relationships," Financial Management, Financial Management Association International, vol. 48(1), pages 311-338, March.
    7. Jean-François Gajewski & Linh Tran Dieu, 2021. "Determinants And Performance Of Outsourcing In The European Mutual Fund Market," Post-Print hal-03221014, HAL.
    8. Wang, Xiaoxiao, 2023. "Bank affiliation and mutual funds’ trading strategy distinctiveness," International Review of Financial Analysis, Elsevier, vol. 88(C).
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  8. Bidisha Chakrabarty & Charles Trzcinka, 2006. "Momentum: Does The Database Make A Difference?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 29(4), pages 441-462, December.

    Cited by:

    1. Chen, Chun-nan, 2013. "The predictability of opening returns for the returns of the trading day: Evidence from Taiwan futures market," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 272-281.
    2. Andrikopoulos, Panagiotis, 2009. "Seasoned equity offerings, operating performance and overconfidence: Evidence from the UK," Journal of Economics and Business, Elsevier, vol. 61(3), pages 189-215.

  9. Gore, Angela K & Sachs, Kevin & Trzcinka, Charles, 2004. "Financial Disclosure and Bond Insurance," Journal of Law and Economics, University of Chicago Press, vol. 47(1), pages 275-306, April.

    Cited by:

    1. Benito Arruñada, 2008. "Mandatory accounting disclosure by small private companies," Economics Working Papers 1090, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Christine R. Martell & Robert S. Kravchuk, 2010. "Bond Insurance and Liquidity Provision: Impacts in the Municipal Variable Rate Debt Market, 2008-09," Public Finance Review, , vol. 38(3), pages 378-401, May.
    3. Natee Amornsiripanitch, 2022. "Bond Insurance and Public Sector Employment," Working Papers 22-03, Federal Reserve Bank of Philadelphia.
    4. Cécile Carpentier & Douglas Cumming & Jean-Marc Suret, 2009. "The Value of Capital Market Regulation: IPOs versus Reverse Mergers," CIRANO Working Papers 2009s-06, CIRANO.
    5. Yaxuan Qi & John Wald, 2008. "State Laws and Debt Covenants," Journal of Law and Economics, University of Chicago Press, vol. 51(1), pages 179-207, February.
    6. Jacquelyn R. Gillette & Delphine Samuels & Frank S. Zhou, 2020. "The Effect of Credit Ratings on Disclosure: Evidence from the Recalibration of Moody's Municipal Ratings," Journal of Accounting Research, Wiley Blackwell, vol. 58(3), pages 693-739, June.
    7. Nolan Kido & Reining Petacchi & Joseph Weber, 2012. "The Influence of Elections on the Accounting Choices of Governmental Entities," Journal of Accounting Research, Wiley Blackwell, vol. 50(2), pages 443-476, May.
    8. Ma, Shuang & Gong, Yuexuan & Li, Ding, 2019. "Reform of the shareholding system for collective assets, residents' participation, and community debts risk," China Economic Review, Elsevier, vol. 58(C).
    9. Pei Li & Leo Tang & Bikki Jaggi, 2018. "Social Capital and the Municipal Bond Market," Journal of Business Ethics, Springer, vol. 153(2), pages 479-501, December.
    10. Cuny, Christine, 2016. "Voluntary disclosure incentives: Evidence from the municipal bond market," Journal of Accounting and Economics, Elsevier, vol. 62(1), pages 87-102.
    11. Branko Stanic, 2018. "Determinants of subnational budget/fiscal transparency: a review of empirical evidence," Public Sector Economics, Institute of Public Finance, vol. 42(4), pages 449-486.

  10. Kallberg, Jarl G. & Liu, Crocker L. & Trzcinka, Charles, 2000. "The Value Added from Investment Managers: An Examination of Funds of REITs," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 35(3), pages 387-408, September.
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    7. Christophe Villa & Amit Goyal & Christophe Pérignon, 2008. "How common are common return factors across NYSE and Nasdaq?," Post-Print hal-00796909, HAL.
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    39. Matsumoto, Keishiro & Hoban Jr., James P., 1999. "Seasonality in the rates of return on Japanese ADRs," Pacific-Basin Finance Journal, Elsevier, vol. 7(1), pages 67-81, February.
    40. Kumar, Pawan & Singh, Vipul Kumar, 2022. "Systemic spillover dynamics of crude oil with Indian Financial indicators in post WPI revision and COVID era," Resources Policy, Elsevier, vol. 77(C).
    41. David H. Goldenberg & Ashok J. Robin, 1991. "The Arbitrage Pricing Theory And Cost-Of-Capital Estimation: The Case Of Electric Utilities," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 14(3), pages 181-196, September.
    42. Eom, Cheoljun & Kwon, Okyu & Jung, Woo-Sung & Kim, Seunghwan, 2010. "The effect of a market factor on information flow between stocks using the minimal spanning tree," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(8), pages 1643-1652.

  16. Trzcinka, Charles, 1986. "Risk, Segmentation, and the Municipal Term Structure," The Financial Review, Eastern Finance Association, vol. 21(4), pages 501-526, November.

    Cited by:

    1. Chittenden, William T. & Hein, Scott E., 1999. "Tax rate changes and the long-run equilibrium relationship between taxable and tax-exempt interest rates," Journal of Economics and Business, Elsevier, vol. 51(4), pages 327-346, July.

  17. Kidwell, David S. & Trzcinka, Charles A., 1983. "The Impact of the New York City Fiscal Crisis on the Interest Cost of New Issue Municipal Bonds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 18(3), pages 381-399, September.

    Cited by:

    1. Richard L. Smith & James R. Booth, 1985. "The Risk Structure Of Interest Rates And Interdependent Borrowing Costs: The Impact Of Major Defaults," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(2), pages 83-94, June.
    2. Earl D. Benson & Barry R. Marks & K. K. Raman, 1988. "Tax Effort as an Indicator of Fiscal Stress," Public Finance Review, , vol. 16(2), pages 203-218, April.
    3. Joe Peek & Eric S. Rosengren, 1999. "Determinants of the Japan Premium: Actions Speak Louder Than Words," NBER Working Papers 7251, National Bureau of Economic Research, Inc.
    4. Matthew R. Marlin, 1991. "The Hidden Costs Of Private Activity Tax-Exempt Bonds," The Review of Regional Studies, Southern Regional Science Association, vol. 21(3), pages 277-290, Fall.
    5. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2019. "Municipal borrowing costs and state policies for distressed municipalities," Journal of Financial Economics, Elsevier, vol. 132(2), pages 404-426.
    6. John W. Peavy III & George H. Hempel, 1987. "The Effect Of The Wppss Crisis On The Tax-Exempt Bond Market," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(3), pages 239-247, September.
    7. Cornaggia, Kimberly & Hund, John & Nguyen, Giang, 2022. "Investor attention and municipal bond returns," Journal of Financial Markets, Elsevier, vol. 60(C).

  18. Trzcinka, Charles A, 1982. "The Pricing of Tax-Exempt Bonds and the Miller Hypothesis," Journal of Finance, American Finance Association, vol. 37(4), pages 907-923, September.

    Cited by:

    1. McConnell, John J. & Saretto, Alessio, 2010. "Auction failures and the market for auction rate securities," Journal of Financial Economics, Elsevier, vol. 97(3), pages 451-469, September.
    2. Junbo Wang & Chunchi Wu & Frank X. Zhang, 2005. "Liquidity, default, taxes and yields on municipal bonds," Finance and Economics Discussion Series 2005-35, Board of Governors of the Federal Reserve System (U.S.).
    3. Merle Erickson & Austan Goolsbee & Edward Maydew, 2002. "How Prevalent is Tax Arbitrage? Evidence from the Market for Municipal Bonds," NBER Working Papers 9105, National Bureau of Economic Research, Inc.
    4. James M. Poterba, 1986. "Explaining the Yield Spread between Taxable and Tax-exempt Bonds: The Role of Expected Tax Policy," NBER Chapters, in: Studies in State and Local Public Finance, pages 5-52, National Bureau of Economic Research, Inc.
    5. James M. Poterba, 1984. "Expected Future Tax Policy and Tax-Exempt Bond Yields," NBER Working Papers 1469, National Bureau of Economic Research, Inc.
    6. Robert Novy-Marx & Joshua D. Rauh, 2012. "Fiscal Imbalances and Borrowing Costs: Evidence from State Investment Losses," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 182-213, May.
    7. Daniel Garrett & Andrey Ordin & James W Roberts & Juan Carlos Suárez Serrato, 2023. "Tax Advantages and Imperfect Competition in Auctions for Municipal Bonds," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(2), pages 815-851.
    8. Tania Babina & Chotibhak Jotikasthira & Christian Lundblad & Tarun Ramadorai, 2021. "Heterogeneous Taxes and Limited Risk Sharing: Evidence from Municipal Bonds [The distribution of realized stock return volatility]," The Review of Financial Studies, Society for Financial Studies, vol. 34(1), pages 509-568.
    9. Wang, Junbo & Wu, Chunchi & Zhang, Frank X., 2008. "Liquidity, default, taxes, and yields on municipal bonds," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 1133-1149, June.
    10. Jess B. Yawitz & Kevin J. Maloney & Louis H. Ederington, 1983. "Taxes, Default Risk, and Yield Spreads," NBER Working Papers 1215, National Bureau of Economic Research, Inc.
    11. N. Gregory Mankiw & James Poterba, 1996. "Stock-Market Yields and the Pricing of Municipal Bonds," Harvard Institute of Economic Research Working Papers 1761, Harvard - Institute of Economic Research.
    12. Slemrod, Joel & Greimel, Timothy, 1999. "Did Steve Forbes scare the US municipal bond market?," Journal of Public Economics, Elsevier, vol. 74(1), pages 81-96, October.
    13. Matthew R. Marlin, 1991. "The Hidden Costs Of Private Activity Tax-Exempt Bonds," The Review of Regional Studies, Southern Regional Science Association, vol. 21(3), pages 277-290, Fall.
    14. Graham, John R., 1999. "Do personal taxes affect corporate financing decisions?," Journal of Public Economics, Elsevier, vol. 73(2), pages 147-185, August.
    15. Koch, Timothy W. & Stock, Duane, 1997. "An analysis of implied tax rates on long-term taxable and tax-exempt bonds," Journal of Business Research, Elsevier, vol. 38(2), pages 171-176, February.
    16. Darko B. Vukovic & Carlos J. Rincon & Moinak Maiti, 2021. "Price distortions and municipal bonds premiums: evidence from Switzerland," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-21, December.
    17. Landoni, Mattia, 2018. "Tax distortions and bond issue pricing," Journal of Financial Economics, Elsevier, vol. 129(2), pages 382-393.
    18. James M. Poterba, 1989. "Tax Reform and the Market For Tax-Exempt Debt," NBER Working Papers 2900, National Bureau of Economic Research, Inc.
    19. Park, Sangkyun, 1997. "The Relationship Between Government Financial Condition and Expected Tax Rates Reflected in Municipal Bond Yields," National Tax Journal, National Tax Association;National Tax Journal, vol. 50(1), pages 23-38, March.
    20. Xu, Kuan, 1998. "Income uncertainty, substitution effect and relative yield spreads," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(2), pages 217-225.
    21. Abudy, Menachem & Benninga, Simon & Shust, Efrat, 2016. "The cost of equity for private firms," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 431-443.
    22. Duane Stock, 1985. "Price Volatility Of Municipal Discount Bonds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(1), pages 1-14, March.
    23. Brooks, Robert, 1999. "Municipal bonds: a contingent claims perspective," Financial Services Review, Elsevier, vol. 8(2), pages 71-85.
    24. Chittenden, William T. & Hein, Scott E., 1999. "Tax rate changes and the long-run equilibrium relationship between taxable and tax-exempt interest rates," Journal of Economics and Business, Elsevier, vol. 51(4), pages 327-346, July.
    25. Kenneth A. Kriz & Yan Xiao, 2017. "The Impact of Rating Recalibration on Municipal Bond Yield Spreads," Public Budgeting & Finance, Wiley Blackwell, vol. 37(2), pages 83-101, June.
    26. Zhang, Man & Brookins, Oscar T. & Huang, Xiaowei, 2022. "The crowding out effect of central versus local government debt: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    27. Peter Fortune, 1984. "Tax Exemption and Resource Allocation: Implications for Prices, Production, and Factor Choice," Public Finance Review, , vol. 12(3), pages 347-364, July.
    28. John B. Shoven & Laurie Blair Simon, 1987. "Share Repurchases and Acquisitions: An Analysis of Which Firms Participate," NBER Working Papers 2243, National Bureau of Economic Research, Inc.
    29. H. Youn Kim & Junsoo Lee & Stephen E. Lile & James R. Ramsey, 2000. "Municipal Bonds and Tax Arbitrage: A Cointegration Analysis," Public Finance Review, , vol. 28(4), pages 372-389, July.
    30. Sheen X. Liu & Howard Qi & Chunchi Wu, 2006. "Personal Taxes, Endogenous Default, and Corporate Bond Yield Spreads," Management Science, INFORMS, vol. 52(6), pages 939-954, June.
    31. Moon Kim & Geoffrey Booth, 1985. "Yield Structure Of Taxable Vs. Nontaxable Bonds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(2), pages 95-105, June.
    32. Kryzanowski, Lawrence & Xu, Kuan, 1997. "Long-term equilibria of yields on taxable and tax-exempt bonds," International Review of Economics & Finance, Elsevier, vol. 6(2), pages 119-143.

  19. Kidwell, David S & Trzcinka, Charles A, 1982. "Municipal Bond Pricing and the New York City Fiscal Crisis," Journal of Finance, American Finance Association, vol. 37(5), pages 1239-1246, December.

    Cited by:

    1. James M. Poterba, 1986. "Explaining the Yield Spread between Taxable and Tax-exempt Bonds: The Role of Expected Tax Policy," NBER Chapters, in: Studies in State and Local Public Finance, pages 5-52, National Bureau of Economic Research, Inc.
    2. James M. Poterba, 1984. "Expected Future Tax Policy and Tax-Exempt Bond Yields," NBER Working Papers 1469, National Bureau of Economic Research, Inc.
    3. Jess B. Yawitz & Kevin J. Maloney & Louis H. Ederington, 1983. "Taxes, Default Risk, and Yield Spreads," NBER Working Papers 1215, National Bureau of Economic Research, Inc.
    4. Lang (Kate) Yang, 2020. "Intergovernmental Costs of Political Gridlock: Local Government Cash Flow Smoothing during State Budgetary Delays," Public Finance Review, , vol. 48(1), pages 102-134, January.
    5. Earl D. Benson & Barry R. Marks & K. K. Raman, 1988. "Tax Effort as an Indicator of Fiscal Stress," Public Finance Review, , vol. 16(2), pages 203-218, April.
    6. Crowder, William J. & Wohar, Mark E., 1999. "The changing long-run linkage between yields on Treasury and municipal bonds and the 1986 Tax Act," Review of Financial Economics, Elsevier, vol. 8(2), pages 101-119.
    7. Joe Peek & Eric S. Rosengren, 1999. "Determinants of the Japan Premium: Actions Speak Louder Than Words," NBER Working Papers 7251, National Bureau of Economic Research, Inc.
    8. Francis A. Longstaff, 2009. "Municipal Debt and Marginal Tax Rates: Is there a Tax Premium in Asset Prices?," NBER Working Papers 14687, National Bureau of Economic Research, Inc.
    9. James M. Poterba, 1989. "Tax Reform and the Market For Tax-Exempt Debt," NBER Working Papers 2900, National Bureau of Economic Research, Inc.
    10. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2019. "Municipal borrowing costs and state policies for distressed municipalities," Journal of Financial Economics, Elsevier, vol. 132(2), pages 404-426.
    11. John W. Peavy III & George H. Hempel, 1987. "The Effect Of The Wppss Crisis On The Tax-Exempt Bond Market," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(3), pages 239-247, September.
    12. Ciprian Antoniade Alexandru, 2011. "Dynamic development of municipal bonds on capital markets in Romania and contribution to regional development," ERSA conference papers ersa11p951, European Regional Science Association.
    13. H. Youn Kim & Junsoo Lee & Stephen E. Lile & James R. Ramsey, 2000. "Municipal Bonds and Tax Arbitrage: A Cointegration Analysis," Public Finance Review, , vol. 28(4), pages 372-389, July.
    14. Sheen X. Liu & Howard Qi & Chunchi Wu, 2006. "Personal Taxes, Endogenous Default, and Corporate Bond Yield Spreads," Management Science, INFORMS, vol. 52(6), pages 939-954, June.

  20. Kidwell, David S & Trzcinka, Charles A, 1979. "The Risk Structure of Interest Rates and the Penn-Central Crisis," Journal of Finance, American Finance Association, vol. 34(3), pages 751-760, June.

    Cited by:

    1. Olivero, María Pía, 2010. "Market power in banking, countercyclical margins and the international transmission of business cycles," Journal of International Economics, Elsevier, vol. 80(2), pages 292-301, March.
    2. Richard L. Smith & James R. Booth, 1985. "The Risk Structure Of Interest Rates And Interdependent Borrowing Costs: The Impact Of Major Defaults," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(2), pages 83-94, June.
    3. W. Brian Barrett & Andrea J. Heuson & Robert W. Kolb, 1986. "The Differential Effects Of Sinking Funds On Bond Risk Premia," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(4), pages 303-312, December.
    4. John W. Peavy III & George H. Hempel, 1987. "The Effect Of The Wppss Crisis On The Tax-Exempt Bond Market," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(3), pages 239-247, September.

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