Market Liquidity: Asset Pricing, Risk, and Crises

Note moyenne 4
( 3 avis fournis par Goodreads )
 
9780521139656: Market Liquidity: Asset Pricing, Risk, and Crises

This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book shows that higher illiquidity and greater liquidity risk reduce securities prices and raise the expected return that investors require as compensation. Aggregate market liquidity is linked to funding liquidity, which affects the provision of liquidity services. When these become constrained, there is a liquidity crisis which leads to downward price and liquidity spiral. Overall, the volume demonstrates the important role of liquidity in asset pricing.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Book Description :

This book is about the pricing of liquidity in securities markets. The authors present theory and evidence on the positive effect of liquidity on asset prices, why liquidity varies over time, and how liquidity risk affects prices. The book then explains how liquidity crises create downward price and liquidity spirals. The analysis has implications for traders, risk managers, performance evaluation, economic policy, regulation of financial markets, management of liquidity crises, and academic research.

About the Author :

Yakov Amihud is the Ira Rennert Professor of Finance at the Stern School of Business, New York University. His published research focuses on the effects of the liquidity of stocks and bonds on their returns and values and the design and evaluation of securities markets' trading methods and systems. On these topics, Professor Amihud has advised the New York Stock Exchange, American Stock Exchange, Chicago Board of Options Exchange, Chicago Board of Trade and other securities markets. He has published more than ninety research articles in professional journals and in books and edited and co-edited five books on securities market design, international finance, leveraged buyouts and bank mergers and acquisitions.

Haim Mendelson is the Kleiner Perkins Caufield and Byers Professor of Electronic Business and Commerce and Management, at the Graduate School of Business, Stanford University. His research interests include securities markets, electronic markets, information technology and the information industries. He was elected Distinguished Fellow of the Information Systems Society in recognition of outstanding intellectual contributions to the discipline. Professor Mendelson has published more than one hundred research papers in professional journals and has consulted for high-tech companies, financial institutions and securities markets.

Lasse Heje Pedersen is the John A. Paulson Professor of Finance and Alternative Investments at the New York University Stern School of Business and a principal at AQR Capital Management. He has been part of the Liquidity Working Group of the Federal Reserve Bank of New York, the New York Fed's Monetary Policy Panel, the Board of Directors of the American Finance Association, the Economic Advisory Boards of NASDAQ and FTSE, and associate editor at the Journal of Finance, the Journal of Economic Theory, Review of Asset Pricing Studies, and the Quarterly Journal of Economics. His research explains how crises can arise from liquidity spirals and how market and funding liquidity risks explain equity returns, bond yields, option prices, and currency crashes. Professor Pedersen received the 2011 Bernacer Prize for the best European economist under the age of 40 in macroeconomics and finance.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Acheter neuf Afficher le livre
EUR 26,89

Autre devise

Frais de port : Gratuit
De Royaume-Uni vers Etats-Unis

Destinations, frais et délais

Ajouter au panier

Meilleurs résultats de recherche sur AbeBooks

1.

Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen
Edité par CAMBRIDGE UNIVERSITY PRESS, United Kingdom (2013)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Paperback Quantité : 1
Vendeur
The Book Depository
(London, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre CAMBRIDGE UNIVERSITY PRESS, United Kingdom, 2013. Paperback. État : New. Language: English . Brand New Book. This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book shows that higher illiquidity and greater liquidity risk reduce securities prices and raise the expected return that investors require as compensation. Aggregate market liquidity is linked to funding liquidity, which affects the provision of liquidity services. When these become constrained, there is a liquidity crisis which leads to downward price and liquidity spiral. Overall, the volume demonstrates the important role of liquidity in asset pricing. N° de réf. du libraire AAZ9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 26,89
Autre devise

Ajouter au panier

Frais de port : Gratuit
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

2.

Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen
Edité par Cambridge University Press 2012-11-12, New York, NY (2012)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) paperback Quantité : 10
Vendeur
Blackwell's
(Oxford, OX, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre Cambridge University Press 2012-11-12, New York, NY, 2012. paperback. État : New. N° de réf. du libraire 9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 26,59
Autre devise

Ajouter au panier

Frais de port : EUR 3,29
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

3.

Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen
Edité par CAMBRIDGE UNIVERSITY PRESS, United Kingdom (2013)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Paperback Quantité : 1
Vendeur
The Book Depository US
(London, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre CAMBRIDGE UNIVERSITY PRESS, United Kingdom, 2013. Paperback. État : New. Language: English . Brand New Book. This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book shows that higher illiquidity and greater liquidity risk reduce securities prices and raise the expected return that investors require as compensation. Aggregate market liquidity is linked to funding liquidity, which affects the provision of liquidity services. When these become constrained, there is a liquidity crisis which leads to downward price and liquidity spiral. Overall, the volume demonstrates the important role of liquidity in asset pricing. N° de réf. du libraire AAZ9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 30,77
Autre devise

Ajouter au panier

Frais de port : Gratuit
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

4.

Amihud, Yakov
Edité par Cambridge University Press (2012)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Quantité : > 20
impression à la demande
Vendeur
Pbshop
(Wood Dale, IL, Etats-Unis)
Evaluation vendeur
[?]

Description du livre Cambridge University Press, 2012. PAP. État : New. New Book. Shipped from US within 10 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. N° de réf. du libraire IQ-9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 29,25
Autre devise

Ajouter au panier

Frais de port : EUR 3,41
Vers Etats-Unis
Destinations, frais et délais

5.

Amihud, Yakov
Edité par Cambridge University Press (2012)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Quantité : 1
Vendeur
Books2Anywhere
(Fairford, GLOS, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre Cambridge University Press, 2012. PAP. État : New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. N° de réf. du libraire GB-9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 24,16
Autre devise

Ajouter au panier

Frais de port : EUR 9,88
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

6.

Amihud, Yakov, Mendelson, Haim, Pedersen, Lasse Heje
Edité par Cambridge University Press (2012)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Couverture souple Quantité : 1
Evaluation vendeur
[?]

Description du livre Cambridge University Press, 2012. État : New. 2012. Paperback. This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices. Num Pages: 292 pages, 32 b/w illus. 27 tables. BIC Classification: KFFM. Category: (U) Tertiary Education (US: College). Dimension: 154 x 229 x 16. Weight in Grams: 398. Asset Pricing, Risk, and Crises. 289 pages, 32 b/w illus. 27 tables. This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices. Cateogry: (U) Tertiary Education (US: College). BIC Classification: KFFM. Dimension: 154 x 229 x 16. Weight: 398. . . . . . . N° de réf. du libraire V9780521139656

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 34,70
Autre devise

Ajouter au panier

Frais de port : Gratuit
De Irlande vers Etats-Unis
Destinations, frais et délais

7.

Yakov Amihud; Haim Mendelson; Lasse Heje Pedersen
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Quantité : 1
Vendeur
Speedy Hen LLC
(Sunrise, FL, Etats-Unis)
Evaluation vendeur
[?]

Description du livre État : New. Bookseller Inventory # ST0521139651. N° de réf. du libraire ST0521139651

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 34,71
Autre devise

Ajouter au panier

Frais de port : Gratuit
Vers Etats-Unis
Destinations, frais et délais

8.

Amihud, Yakov
Edité par Cambridge University Press (2016)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Paperback Quantité : 1
impression à la demande
Vendeur
Ria Christie Collections
(Uxbridge, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre Cambridge University Press, 2016. Paperback. État : New. PRINT ON DEMAND Book; New; Publication Year 2016; Not Signed; Fast Shipping from the UK. No. book. N° de réf. du libraire ria9780521139656_lsuk

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 31,94
Autre devise

Ajouter au panier

Frais de port : EUR 4,25
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

9.

Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen,
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Paperback Quantité : 1
Vendeur
Ria Christie Collections
(Uxbridge, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre Paperback. État : New. Not Signed; This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large. book. N° de réf. du libraire ria9780521139656_rkm

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 31,94
Autre devise

Ajouter au panier

Frais de port : EUR 4,25
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

10.

Amihud, Yakov (Editor)/ Mendelson, Haim (Editor)/ Pedersen, Lasse Heje (Editor)
Edité par Cambridge Univ Pr (2013)
ISBN 10 : 0521139651 ISBN 13 : 9780521139656
Neuf(s) Paperback Quantité : 1
Vendeur
Revaluation Books
(Exeter, Royaume-Uni)
Evaluation vendeur
[?]

Description du livre Cambridge Univ Pr, 2013. Paperback. État : Brand New. 288 pages. 8.90x1.00x5.90 inches. In Stock. N° de réf. du libraire __0521139651

Plus d'informations sur ce vendeur | Poser une question au libraire

Acheter neuf
EUR 29,64
Autre devise

Ajouter au panier

Frais de port : EUR 6,59
De Royaume-Uni vers Etats-Unis
Destinations, frais et délais

autres exemplaires de ce livre sont disponibles

Afficher tous les résultats pour ce livre