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- W2078114559 abstract "Employing a cross-sectional regression framework, we explore whether liquidity (as proxied by share turnover) is priced in an Australian setting, using monthly data over the period 1990 to 1999. We find that turnover is negatively related to stock returns and its importance persists even after controlling for book-to-market, size, stock beta and momentum. This finding is robust to seasonality effects and to potential nonlinearities." @default.
- W2078114559 created "2016-06-24" @default.
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- W2078114559 date "2003-11-01" @default.
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- W2078114559 title "An investigation into the role of liquidity in asset pricing: Australian evidence" @default.
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- W2078114559 doi "https://doi.org/10.1016/s0927-538x(03)00003-9" @default.
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