{"id":6194,"date":"2019-04-10T09:00:31","date_gmt":"2019-04-10T00:00:31","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/wias\/?p=6194"},"modified":"2019-04-10T18:09:18","modified_gmt":"2019-04-10T09:09:18","slug":"__trashed-2-22","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/wias\/news\/2019\/04\/10\/6194\/","title":{"rendered":"Waseda Organizational and Financial Economics Seminar:  &#8220;The Effect of Stock Liquidity on Debt-Equity Choices&#8221; (4\/22)"},"content":{"rendered":"<h4>Waseda Organizational and Financial Economics Seminar:<br \/>\n&#8220;The Effect of Stock Liquidity on Debt-Equity Choices&#8221; (4\/22)<\/h4>\n<h5>\u8b1b\u6f14\u8005 \/ Speaker<\/h5>\n<p><a href=\"http:\/\/researchers.waseda.jp\/profile\/ja.11568f36512c632d78a6eddb414c949a.html\">\u30c1\u30a7\u30f3, \u30df\u30f3\u30e4\u30f3\u00a0 \u30a6\u30a3\u30ea\u30a2\u30e0<\/a>\u00a0\uff08\u65e9\u7a32\u7530\u5927\u5b66 \u5546\u5b66\u5b66\u8853\u9662 \u51c6\u6559\u6388\uff09<\/p>\n<ul>\n<li><u>\u7814\u7a76\u5206\u91ce\u00a0 \u95a2\u5fc3\u9818\u57df<\/u><br \/>\n\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff08REIT\uff09\u3001\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3001\u5e02\u5834\u6d41\u52d5\u6027<\/li>\n<\/ul>\n<h5>\u65e5\u3000\u6642 \/ Date &amp; Time<\/h5>\n<p>2019\u5e744\u670822\u65e5\uff08\u6708\uff09 13:00\uff5e14:30<\/p>\n<h5>\u4f1a\u3000\u5834 \/ Venue<\/h5>\n<p><a href=\"https:\/\/www.waseda.jp\/top\/access\/waseda-campus\">\u65e9\u7a32\u7530\u5927\u5b66 \u65e9\u7a32\u7530\u30ad\u30e3\u30f3\u30d1\u30b9 11\u53f7\u9928 11\u968e 1111\u6559\u5ba4<\/a><\/p>\n<h5>\u4e3b\u3000\u65e8 \/ Outline<\/h5>\n<p>&#8220;The Effect of Stock Liquidity on Debt-Equity Choices&#8221;<\/p>\n<p style=\"text-align: justify;\">We examine the effect of stock liquidity on a firm\u2019s choice between debt and equity when funding its investment activities.<br \/>\nUsing Russell index reconstitutions and two tick-size policy changes as exogenous shocks to liquidity, we show that stock liquidity increases a firm\u2019spropensity to raise debt capital.<br \/>\nWe also find support for a major economic mechanism underlying the positive impact of stock liquidity on debt financing: information produced by increased liquidity leads to a reduction of residual uncertainty, which lowers creditors\u2019 information costs and thus the firm\u2019s cost of debt capital.<br \/>\nThese findings provide new insights into the effect of stock liquidity on external financing choice.<\/p>\n<h5>\u30d7\u30ed\u30b0\u30e9\u30e0 \/ Schedule<\/h5>\n<p>13:00\uff5e13:05 \u958b\u4f1a\u306e\u6328\u62f6\uff08\u5bae\u5cf6 \u82f1\u662d \u65e9\u7a32\u7530\u5927\u5b66\u9ad8\u7b49\u7814\u7a76\u6240 \u9867\u554f \uff0f \u5546\u5b66\u5b66\u8853\u9662 \u6559\u6388\uff09<br \/>\n13:05\uff5e14:05 \u8b1b\u6f14<br \/>\n14:05\uff5e14:25 \u8cea\u7591\u5fdc\u7b54<br \/>\n14:25\uff5e14:30 \u9589\u4f1a\u306e\u6328\u62f6\uff08\u5bae\u5cf6 \u82f1\u662d\uff09<\/p>\n<h5>\u5bfe\u3000\u8c61 \/ Prospected Audience<\/h5>\n<p>\u5b66\u90e8\u751f\u30fb\u5927\u5b66\u9662\u751f\u30fb\u6559\u8077\u54e1\u30fb\u4e00\u822c<\/p>\n<h5>\u4e3b\u3000\u50ac \/ Organizer<\/h5>\n<p>\u65e9\u7a32\u7530\u5927\u5b66 \u7523\u696d\u7d4c\u55b6\u7814\u7a76\u6240<br \/>\n\u65e9\u7a32\u7530\u5927\u5b66 \u9ad8\u7b49\u7814\u7a76\u6240<\/p>\n<h5>\u7533\u8fbc\u307f \/ Registration<\/h5>\n<p>\u4e8b\u524d\u7533\u8fbc\u307f\u4e0d\u8981\u3067\u3059\u3002\u76f4\u63a5\u4f1a\u5834\u306b\u304a\u8d8a\u3057\u304f\u3060\u3055\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waseda Organizational and Financial Economics Seminar: &#8220;The Effect of Stock Liquidity on Debt-Equity Cho [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[24,26,28],"class_list":["post-6194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-events","tag-general","tag-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/6194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/comments?post=6194"}],"version-history":[{"count":0,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/6194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media\/2762"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media?parent=6194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/categories?post=6194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/tags?post=6194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}