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Cited by 623

The DOI matches its Crossref record; 49 of the 49 references it cites were found in a registry or an index.

Stock Market Declines and Liquidity

HAMEED, ALLAUDEEN, KANG, WENJIN, VISWANATHAN, S.·2010·The Journal of Finance
DOI 10.1111/j.1540-6261.2009.01529.x
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Abstract

Consistent with recent theoretical models where binding capital constraints lead to sudden liquidity dry‐ups, we find that negative market returns decrease stock liquidity, especially during times of tightness in the funding market. The asymmetric effect of changes in aggregate asset values on liquidity and commonality in liquidity cannot be fully explained by changes in demand for liquidity or volatility effects. We document interindustry spillover effects in liquidity, which are likely to arise from capital constraints in the market making sector. We also find economically significant returns to supplying liquidity following periods of large drops in market valuations.

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Crossref · 10.1111/j.1540-6261.2009.01529.x

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Metadata

Authors
HAMEED, A., KANG, W., & VISWANATHAN, S.
Venue
The Journal of Finance
Publisher
Wiley
Published
2010-01-13
Volume
65
Issue
1
Pages
257-293
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2009.01529.x
OpenAlex
W3121729798
Cited by
623
References
49
FWCI
61.40
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Stock Market Declines and Liquidity. https://app.cochat.ai/papers/10.1111/j.1540-6261.2009.01529.x
The paper
HAMEED, A., KANG, W., & VISWANATHAN, S. (2010). Stock Market Declines and Liquidity. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2009.01529.x

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.