Continuing the regulation theme of the previous post, Jain, Kim, and Rezaee give evidence that market liquidity improved following the passage of the Sarbanes-Oxlet Act in 2002.
SSRN-The Effect of The Sarbanes-Oxley Act of 2002 on Market Liquidity by Pankaj Jain, Jang-Chul Kim, Zabihollah Rezaee: "We detect wider spreads, lower depths, and higher adverse selection component of spreads in the
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