Measuring and managing liquidity risk in the Hungarian practice
| Autor: | Balázs Árpád Szűcs, Kata Váradi |
|---|---|
| Rok vydání: | 2014 |
| Předmět: |
Finance
Public Administration Sociology and Political Science business.industry Strategy and Management Liquidity crisis Liquidity risk jel:G32 Liquidity premium jel:G11 Market liquidity Third market Industrial relations market liquidity portfolio optimization semi-structured interview Economics Financial modeling Business and International Management Accounting liquidity business Market impact General Economics Econometrics and Finance |
| Zdroj: | Society and Economy. 36:543-563 |
| ISSN: | 1588-970X 1588-9726 |
| DOI: | 10.1556/socec.36.2014.4.6 |
| Popis: | The crisis that unfolded in 2007/2008 turned the attention of the financial world toward liquidity, the lack of which caused substantial losses. As a result, the need arose for the traditional financial models to be extended with liquidity. Our goal is to discover how Hungarian market players relate to liquidity. Our results are obtained through a series of semi-structured interviews, and are hoped to be a starting point for extending the existing models in an appropriate way. Our main results show that different investor groups can be identified along their approaches to liquidity, and they rarely use sophisticated models to measure and manage liquidity. We conclude that although market players would have access to complex liquidity measurement and management tools, there is a limited need for these, because the currently available models are unable to use complex liquidity information effectively. |
| Databáze: | OpenAIRE |
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