Liquidity: Urban versus rural firms

Our paper examines the impact of geographic location on liquidity for U.S. rural- and urban-based companies. Even after adjusting for size and other factors, rural firms trade much less, are covered by fewer analysts, and are owned by fewer institutions than urban firms. Trading costs are higher for...

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Veröffentlicht in:	Journal of financial economics 2005-11, Vol.78 (2), p.341-374
Hauptverfasser:	Loughran, Tim, Schultz, Paul
Format:	Artikel
Sprache:	eng
Schlagworte:	Financial economics Financial performance Geographic location Liquidity Location of enterprises Regional economics Rural areas Stock prices Stock returns Trading costs U.S.A Urban areas
Online-Zugang:	Volltext
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