The Paradox of Liquidity
- 1 August 1998
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 113 (3) , 733-771
- https://doi.org/10.1162/003355398555739
Abstract
The more liquid a firm's assets, the greater their value in a short-notice liquidation. It is generally thought that a firm should find it easier toKeywords
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