The cross-sectional return predictability of employment growth: A liquidity risk explanation

doi:10.1111/fire.12279

科研成果详情

发表状态	已发表Published
题名	The cross-sectional return predictability of employment growth: A liquidity risk explanation
作者	Liu, Weimin1,2 ; Luo, Di 3; Park, Seyoung 1; Zhao, Huainan 4
发表日期	2022-02-01
发表期刊	Financial Review
ISSN/eISSN	0732-8516
卷号	57 期号:1 页码:155-178
摘要	Employment growth (EG) is related to liquidity fundamentals of investment opportunities, firm health, and information environment and quality. This, in turn, implies that liquidity risk may play a role in explaining the relation between EG and stock returns. We find strong empirical evidence supporting the link between EG and liquidity risk. Stocks of high-EG firms are more liquid and exposed to lower liquidity risk than stocks of low-EG firms. After adjusting for liquidity risk, EG loses its power to predict returns.
关键词	employment growth premium labor hiring liquidity risk
DOI	10.1111/fire.12279
URL	查看来源
收录类别	ESCI
语种	英语English
WOS研究方向	Business & Economics
WOS类目	Business, Finance
WOS记录号	WOS:000684024200001
Scopus入藏号	2-s2.0-85112214197
引用统计	被引频次：1[WOS] [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	https://repository.uic.edu.cn/handle/39GCC9TT/10930
专题	个人在本单位外知识产出
通讯作者	Luo, Di
作者单位	1.Nottingham University Business School,University of Nottingham,Nottingham,United Kingdom 2.Nottingham University Business School China,University of Nottingham,Ningbo,China 3.Business School,University of Southampton,Southampton,United Kingdom 4.School of Business and Economics,Loughborough University,Loughborough,United Kingdom
推荐引用方式 GB/T 7714	Liu, Weimin,Luo, Di,Park, Seyounget al. The cross-sectional return predictability of employment growth: A liquidity risk explanation[J]. Financial Review, 2022, 57(1): 155-178.
APA	Liu, Weimin, Luo, Di, Park, Seyoung, & Zhao, Huainan. (2022). The cross-sectional return predictability of employment growth: A liquidity risk explanation. Financial Review, 57(1), 155-178.
MLA	Liu, Weimin,et al."The cross-sectional return predictability of employment growth: A liquidity risk explanation". Financial Review 57.1(2022): 155-178.