{"id":"https://openalex.org/W2803829552","doi":"https://doi.org/10.1016/j.jfineco.2019.04.006","title":"The effects of uncertainty on market liquidity: Evidence from Hurricane Sandy","display_name":"The effects of uncertainty on market liquidity: Evidence from Hurricane Sandy","publication_year":2019,"publication_date":"2019-04-24","ids":{"openalex":"https://openalex.org/W2803829552","doi":"https://doi.org/10.1016/j.jfineco.2019.04.006","mag":"2803829552"},"language":"en","primary_location":{"id":"doi:10.1016/j.jfineco.2019.04.006","doi":"https://doi.org/10.1016/j.jfineco.2019.04.006","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jfineco.2019.04.006","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0304405X19301060/pdf","source":{"id":"https://openalex.org/S149240962","display_name":"Journal of Financial Economics","issn_l":"0304-405X","issn":["0304-405X","1879-2774"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.sciencedirect.com/science/article/pii/S0304405X19301060/pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5034992697","display_name":"Dominik Rehse","orcid":"https://orcid.org/0000-0003-0954-0946","observed_orcids":["https://orcid.org/0000-0003-0954-0946"]},"institutions":[{"id":"https://openalex.org/I177364143","display_name":"Centre for European Economic Research","ror":"https://ror.org/02qnsw591","country_code":"DE","type":"nonprofit","lineage":["https://openalex.org/I177364143","https://openalex.org/I315704651"]}],"countries":["DE"],"is_corresponding":true,"raw_author_name":"Dominik Rehse","raw_affiliation_strings":["ZEW Mannheim, L 7, 1, Mannheim 68161, Germany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"ZEW Mannheim, L 7, 1, Mannheim 68161, Germany","institution_ids":["https://openalex.org/I177364143"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5069996199","display_name":"Ryan Riordan","orcid":"https://orcid.org/0000-0003-4538-1241","observed_orcids":["https://orcid.org/0000-0003-4538-1241"]},"institutions":[{"id":"https://openalex.org/I204722609","display_name":"Queen's University","ror":"https://ror.org/02y72wh86","country_code":"CA","type":"education","lineage":["https://openalex.org/I204722609"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Ryan Riordan","raw_affiliation_strings":["Stephen J.R. Smith School of Business, Queen\u2019s University, Goodes Hall, 143 Union St W, Kingston, ON K7L 3N6, Canada"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Stephen J.R. Smith School of Business, Queen\u2019s University, Goodes Hall, 143 Union St W, Kingston, ON K7L 3N6, Canada","institution_ids":["https://openalex.org/I204722609"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5058930987","display_name":"Nico B. Rottke","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I90697900","display_name":"EBS University of Business and Law","ror":"https://ror.org/01js9jv94","country_code":"DE","type":"education","lineage":["https://openalex.org/I90697900"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Nico Rottke","raw_affiliation_strings":["EBS Business School, EBS Universit\u00e4t f\u00fcr Wirtschaft und Recht, Gustav-Stresemann-Ring 3, Wiesbaden 65189, Germany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"EBS Business School, EBS Universit\u00e4t f\u00fcr Wirtschaft und Recht, Gustav-Stresemann-Ring 3, Wiesbaden 65189, Germany","institution_ids":["https://openalex.org/I90697900"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5010581934","display_name":"Joachim Zietz","orcid":"https://orcid.org/0000-0001-8874-5370","observed_orcids":["https://orcid.org/0000-0001-8874-5370"]},"institutions":[{"id":"https://openalex.org/I90697900","display_name":"EBS University of Business and Law","ror":"https://ror.org/01js9jv94","country_code":"DE","type":"education","lineage":["https://openalex.org/I90697900"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Joachim Zietz","raw_affiliation_strings":["EBS Business School, EBS Universit\u00e4t f\u00fcr Wirtschaft und Recht, Gustav-Stresemann-Ring 3, Wiesbaden 65189, Germany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"EBS Business School, EBS Universit\u00e4t f\u00fcr Wirtschaft und Recht, Gustav-Stresemann-Ring 3, Wiesbaden 65189, Germany","institution_ids":["https://openalex.org/I90697900"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5034992697"],"corresponding_institution_ids":["https://openalex.org/I177364143"],"apc_list":{"value":1800,"currency":"USD","value_usd":1800},"apc_paid":{"value":1800,"currency":"USD","value_usd":1800},"fwci":19.0703,"has_fulltext":true,"cited_by_count":145,"citation_normalized_percentile":{"value":0.99430173,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"134","issue":"2","first_page":"318","last_page":"332"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9810000061988831,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9810000061988831,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.006099999882280827,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11711","display_name":"COVID-19 Pandemic Impacts","score":0.0032999999821186066,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/uncertainty","display_name":"uncertainty","score":0.7179999947547913},{"id":"https://openalex.org/keywords/market-liquidity","display_name":"market liquidity","score":0.9980000257492065},{"id":"https://openalex.org/keywords/hurricane-sandy","display_name":"Hurricane Sandy","score":0.9890000224113464},{"id":"https://openalex.org/keywords/natural-experiment","display_name":"natural experiment","score":0.6150000095367432},{"id":"https://openalex.org/keywords/real-estate-investment-trusts","display_name":"real estate investment trusts","score":0.7620000243186951},{"id":"https://openalex.org/keywords/bid-ask-spread","display_name":"bid-ask spread","score":0.859000027179718},{"id":"https://openalex.org/keywords/trading-volume","display_name":"trading volume","score":0.925000011920929},{"id":"https://openalex.org/keywords/evacuation-zone","display_name":"evacuation zones","score":0.7239999771118164},{"id":"https://openalex.org/keywords/new-york-city","display_name":"New York City","score":0.7260000109672546}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.6329798698425293},{"id":"https://openalex.org/C163379243","wikidata":"https://www.wikidata.org/wiki/Q2551132","display_name":"Landfall","level":3,"score":0.6245203018188477},{"id":"https://openalex.org/C105306849","wikidata":"https://www.wikidata.org/wiki/Q81054","display_name":"Storm","level":2,"score":0.6193541288375854},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.5862096548080444},{"id":"https://openalex.org/C2777381055","wikidata":"https://www.wikidata.org/wiki/Q308922","display_name":"Damages","level":2,"score":0.5753675699234009},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5056219100952148},{"id":"https://openalex.org/C38815200","wikidata":"https://www.wikidata.org/wiki/Q697852","display_name":"Real estate investment trust","level":3,"score":0.4709796905517578},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4525434970855713},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4484517574310303},{"id":"https://openalex.org/C49630185","wikidata":"https://www.wikidata.org/wiki/Q6980675","display_name":"Natural experiment","level":2,"score":0.4200793206691742},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3480985164642334},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.31022071838378906},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.23060965538024902},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.19134032726287842},{"id":"https://openalex.org/C153294291","wikidata":"https://www.wikidata.org/wiki/Q25261","display_name":"Meteorology","level":1,"score":0.10730960965156555},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1016/j.jfineco.2019.04.006","doi":"https://doi.org/10.1016/j.jfineco.2019.04.006","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jfineco.2019.04.006","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0304405X19301060/pdf","source":{"id":"https://openalex.org/S149240962","display_name":"Journal of Financial Economics","issn_l":"0304-405X","issn":["0304-405X","1879-2774"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Economics","raw_type":"journal-article"},{"id":"pmh:oai:ub-madoc.bib.uni-mannheim.de:46161","doi":null,"is_oa":false,"landing_page_url":"https://ub-madoc.bib.uni-mannheim.de/46161/1/dp18024.pdf","pdf_url":"https://ub-madoc.bib.uni-mannheim.de/46161/1/dp18024.pdf","source":{"id":"https://openalex.org/S4377196315","display_name":"MADOC (University of Mannheim)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I177802217","host_organization_name":"University of Mannheim","host_organization_lineage":["https://openalex.org/I177802217"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"Arbeitspapier"},{"id":"pmh:oai:RePEc:zbw:zewdip:18024","doi":null,"is_oa":false,"landing_page_url":"https://www.econstor.eu/bitstream/10419/178620/1/dp18024.pdf","pdf_url":"https://www.econstor.eu/bitstream/10419/178620/1/dp18024.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:eee:jfinec:v:134:y:2019:i:2:p:318-332","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0304405X19301060","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:econstor.eu:10419/178620","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10419/178620","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"doc-type:workingPaper"}],"best_oa_location":{"id":"doi:10.1016/j.jfineco.2019.04.006","doi":"https://doi.org/10.1016/j.jfineco.2019.04.006","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jfineco.2019.04.006","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0304405X19301060/pdf","source":{"id":"https://openalex.org/S149240962","display_name":"Journal of Financial Economics","issn_l":"0304-405X","issn":["0304-405X","1879-2774"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Economics","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2803829552.pdf","grobid_xml":"https://content.openalex.org/works/W2803829552.grobid-xml"},"referenced_works_count":26,"referenced_works":["https://openalex.org/W1827621183","https://openalex.org/W1976415748","https://openalex.org/W1985808284","https://openalex.org/W2008301397","https://openalex.org/W2025268472","https://openalex.org/W2096684396","https://openalex.org/W2099081789","https://openalex.org/W2100761249","https://openalex.org/W2105171386","https://openalex.org/W2116581043","https://openalex.org/W2120846249","https://openalex.org/W2123412352","https://openalex.org/W2134291350","https://openalex.org/W2163190650","https://openalex.org/W2169779928","https://openalex.org/W2333755122","https://openalex.org/W2724299548","https://openalex.org/W3023239135","https://openalex.org/W3023739323","https://openalex.org/W3122064838","https://openalex.org/W3122846673","https://openalex.org/W3123331292","https://openalex.org/W3123539130","https://openalex.org/W3124816249","https://openalex.org/W3125479339","https://openalex.org/W4252350197"],"related_works":["https://openalex.org/W4405225239","https://openalex.org/W7111889349","https://openalex.org/W3023739323","https://openalex.org/W7099335547","https://openalex.org/W2210383675","https://openalex.org/W4391435276","https://openalex.org/W2163190650","https://openalex.org/W3165626542","https://openalex.org/W4416372695","https://openalex.org/W2953272341"],"abstract_inverted_index":{"We":[0,75],"test":[1],"the":[2,17,24,26,33,49,63,92],"effects":[3,94],"of":[4,23,29,52,68,95],"uncertainty":[5,96],"on":[6,91,97],"market":[7,50,98],"liquidity":[8],"using":[9],"Hurricane":[10],"Sandy":[11],"as":[12],"a":[13,30,44],"natural":[14],"experiment.":[15],"Given":[16],"unprecedented":[18],"strength,":[19],"scale,":[20],"and":[21,40,59,80],"nature":[22],"storm,":[25],"potential":[27],"damages":[28],"landfall":[31],"near":[32],"Greater":[34],"New":[35,69],"York":[36,70],"area":[37],"were":[38],"unpredictable":[39],"therefore":[41],"uncertain.":[42],"Using":[43],"difference-in-differences":[45],"setting,":[46],"we":[47],"compare":[48],"reactions":[51],"Real":[53],"Estate":[54],"Investment":[55],"Trusts":[56],"(REITs)":[57],"with":[58],"without":[60],"properties":[61],"in":[62,84],"widely":[64],"published":[65],"evacuation":[66],"zone":[67],"City":[71],"prior":[72],"to":[73],"landfall.":[74],"find":[76],"relatively":[77],"less":[78],"trading":[79],"wider":[81],"bid-ask":[82],"spreads":[83],"affected":[85],"REITs.":[86],"The":[87],"results":[88],"confirm":[89],"theory":[90],"detrimental":[93],"functioning.":[99]},"counts_by_year":[{"year":2026,"cited_by_count":14},{"year":2025,"cited_by_count":20},{"year":2024,"cited_by_count":20},{"year":2023,"cited_by_count":25},{"year":2022,"cited_by_count":31},{"year":2021,"cited_by_count":16},{"year":2020,"cited_by_count":13},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2015,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2018-06-01T00:00:00"}
