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Cited by 272

The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.

Investor Protection and Firm Liquidity

Open access
Brockman, Paul, Chung, Dennis Y.·2003·The Journal of Finance
DOI 10.1111/1540-6261.00551
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Abstract

The purpose of this study is to investigate the relation between investor protection and firm liquidity. We posit that less protective environments lead to wider bid‐ask spreads and thinner depths because they fail to minimize information asymmetries. The Hong Kong equity market provides a unique opportunity to compare liquidity costs across distinct investor protection environments, but still within a common trading mechanism and currency. Our empirical findings verify that firm liquidity is significantly affected by investor protection. Regression and matched‐sample results show that Hong Kong‐based equities exhibit narrower spreads and thicker depths than their China‐based counterparts.

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Crossref · 10.1111/1540-6261.00551

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Metadata

Authors
Brockman, P., & Chung, D. Y.
Venue
The Journal of Finance
Publisher
Wiley
Published
2003-03-21
Volume
58
Issue
2
Pages
921-937
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/1540-6261.00551
OpenAlex
W2122691861
Cited by
272
References
6
FWCI
13.80
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Investor Protection and Firm Liquidity. https://app.cochat.ai/papers/10.1111/1540-6261.00551
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Brockman, P., & Chung, D. Y. (2003). Investor Protection and Firm Liquidity. The Journal of Finance. https://doi.org/10.1111/1540-6261.00551

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.