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|All Authors / Contributors:||
Caroline Emonet; Jacques Hamon; Université Paris-Dauphine.
|Description:||1 vol. (226 p.) : ill. ; 30 cm.|
|Responsibility:||Caroline Emonet-Fournier ; sous la dir.de Jacques Hamon.|
This research paper offers an original approach of liquidity, centred around three themes. The first deals with the composition and measurement of liquidity. What are the principal components of liquidity? Is it possible to select from the components that are already known and recorded in financial literature in order to have a better valuation of liquidity? The second theme covers liquidity management. Is it possible to manage liquidity? Four management tools are described in the second part of this paper: buy-back shares, liquidity providers, taxation and the implementation of a boosting plan. This last strategy is illustrated by the example of the Euro Notionnel contract. The questions raised in the third part concern the systematic components of liquidity. Are there common factors which determine liquidity, in other words do certain events or variables cause the liquidity of all securities making up the market at one time to vary? And what are they?