{"id":"https://openalex.org/W3147005359","doi":"https://doi.org/10.1108/ijoem-05-2020-0492","title":"Economic policy uncertainty and stock liquidity: the role of board networks in an emerging market","display_name":"Economic policy uncertainty and stock liquidity: the role of board networks in an emerging market","publication_year":2021,"publication_date":"2021-04-05","ids":{"openalex":"https://openalex.org/W3147005359","doi":"https://doi.org/10.1108/ijoem-05-2020-0492","mag":"3147005359"},"language":"en","primary_location":{"id":"doi:10.1108/ijoem-05-2020-0492","doi":"https://doi.org/10.1108/ijoem-05-2020-0492","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijoem-05-2020-0492","pdf_url":null,"source":{"id":"https://openalex.org/S116345831","display_name":"International Journal of Emerging Markets","issn_l":"1746-8809","issn":["1746-8809","1746-8817"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Emerging Markets","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5050881941","display_name":"William Mbanyele","orcid":"https://orcid.org/0000-0002-5552-4210","observed_orcids":["https://orcid.org/0000-0002-5552-4210"]},"institutions":[{"id":"https://openalex.org/I154099455","display_name":"Shandong University","ror":"https://ror.org/0207yh398","country_code":"CN","type":"education","lineage":["https://openalex.org/I154099455"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"William Mbanyele","raw_affiliation_strings":["Center of Economic Research, Shandong University, Jinan, China"],"raw_orcid":"https://orcid.org/0000-0002-5552-4210","affiliations":[{"raw_affiliation_string":"Center of Economic Research, Shandong University, Jinan, China","institution_ids":["https://openalex.org/I154099455"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5050881941"],"corresponding_institution_ids":["https://openalex.org/I154099455"],"apc_list":null,"apc_paid":null,"fwci":8.6178,"has_fulltext":false,"cited_by_count":37,"citation_normalized_percentile":{"value":0.97646655,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"18","issue":"1","first_page":"122","last_page":"147"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9463000297546387,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9463000297546387,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.029100000858306885,"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":0.008500000461935997,"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/economic-policy-uncertainty","display_name":"economic policy uncertainty","score":0.9990000128746033},{"id":"https://openalex.org/keywords/stock-liquidity","display_name":"stock liquidity","score":0.9909999966621399},{"id":"https://openalex.org/keywords/board-networks","display_name":"board networks","score":0.9350000023841858},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.8029999732971191},{"id":"https://openalex.org/keywords/independent-directors","display_name":"independent directors","score":0.921999990940094},{"id":"https://openalex.org/keywords/information-channels","display_name":"information channels","score":0.7450000047683716},{"id":"https://openalex.org/keywords/stock-illiquidity","display_name":"stock illiquidity","score":0.6899999976158142},{"id":"https://openalex.org/keywords/brazilian-firms","display_name":"Brazilian companies","score":0.6029999852180481},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.7960000038146973},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.3959999978542328},{"id":"https://openalex.org/keywords/industry-competition","display_name":"industry competition","score":0.5049999952316284}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.7648810148239136},{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.6912834644317627},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5481458306312561},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5059112906455994},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5018763542175293},{"id":"https://openalex.org/C2776950860","wikidata":"https://www.wikidata.org/wiki/Q2914681","display_name":"Originality","level":3,"score":0.4783760607242584},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.46183136105537415},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3969551920890808},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3390582501888275},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.33164989948272705},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.20646044611930847},{"id":"https://openalex.org/C11012388","wikidata":"https://www.wikidata.org/wiki/Q170658","display_name":"Creativity","level":2,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"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/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","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},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1108/ijoem-05-2020-0492","doi":"https://doi.org/10.1108/ijoem-05-2020-0492","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijoem-05-2020-0492","pdf_url":null,"source":{"id":"https://openalex.org/S116345831","display_name":"International Journal of Emerging Markets","issn_l":"1746-8809","issn":["1746-8809","1746-8817"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Emerging Markets","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:ijoem0:ijoem-05-2020-0492","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/IJOEM-05-2020-0492.html?utm_source=repec&utm_medium=feed&utm_campaign=repec","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:RePEc:eme:ijoemp:ijoem-05-2020-0492","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/IJOEM-05-2020-0492/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","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"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.6452000141143799,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":67,"referenced_works":["https://openalex.org/W253204056","https://openalex.org/W1499550068","https://openalex.org/W1966977762","https://openalex.org/W1984465657","https://openalex.org/W2004501113","https://openalex.org/W2015257908","https://openalex.org/W2018514594","https://openalex.org/W2024735205","https://openalex.org/W2035554302","https://openalex.org/W2041917288","https://openalex.org/W2052546656","https://openalex.org/W2054965424","https://openalex.org/W2056944867","https://openalex.org/W2068218763","https://openalex.org/W2079134474","https://openalex.org/W2106978637","https://openalex.org/W2131773668","https://openalex.org/W2144357229","https://openalex.org/W2146756020","https://openalex.org/W2155809871","https://openalex.org/W2167833630","https://openalex.org/W2170123630","https://openalex.org/W2238500470","https://openalex.org/W2314139024","https://openalex.org/W2498079548","https://openalex.org/W2528435572","https://openalex.org/W2592572350","https://openalex.org/W2593260549","https://openalex.org/W2752617332","https://openalex.org/W2757815757","https://openalex.org/W2784839065","https://openalex.org/W2788696543","https://openalex.org/W2788788274","https://openalex.org/W2791694619","https://openalex.org/W2883623055","https://openalex.org/W2888153586","https://openalex.org/W2973166595","https://openalex.org/W2991953046","https://openalex.org/W3001428562","https://openalex.org/W3005118289","https://openalex.org/W3007620667","https://openalex.org/W3023181463","https://openalex.org/W3034280364","https://openalex.org/W3035434105","https://openalex.org/W3035629666","https://openalex.org/W3121403162","https://openalex.org/W3121630491","https://openalex.org/W3122005201","https://openalex.org/W3122090684","https://openalex.org/W3122489987","https://openalex.org/W3122613467","https://openalex.org/W3122718677","https://openalex.org/W3123095288","https://openalex.org/W3123539130","https://openalex.org/W3123798035","https://openalex.org/W3124869029","https://openalex.org/W3124956110","https://openalex.org/W3125125500","https://openalex.org/W3125380794","https://openalex.org/W3125383746","https://openalex.org/W3125469707","https://openalex.org/W3125677311","https://openalex.org/W3125898175","https://openalex.org/W3125937655","https://openalex.org/W3126081245","https://openalex.org/W3133189120","https://openalex.org/W4240542025"],"related_works":["https://openalex.org/W3146957154","https://openalex.org/W2788788274","https://openalex.org/W3173130801","https://openalex.org/W3133189120","https://openalex.org/W3200407166","https://openalex.org/W2962810707","https://openalex.org/W4401061266","https://openalex.org/W4403562993","https://openalex.org/W7165780534","https://openalex.org/W3039435817"],"abstract_inverted_index":{"Purpose":[0],"The":[1,36],"purpose":[2],"of":[3,11,28,132,157,180,214,231,239],"this":[4],"study":[5,37,58],"is":[6,20,89,123,160,169,224],"to":[7,33,66,83,141,152,175,187,196,198],"examine":[8],"the":[9,39,50,57,60,74,87,104,116,129,149,154,173,178,193,201,211,221,226,229,236],"role":[10,230],"board":[12,109,189,232],"networks":[13,110,233],"in":[14,100,183,200,234],"promoting":[15],"stock":[16,84,112,137,244],"liquidity":[17,113],"when":[18,119],"there":[19,168],"high":[21,93],"economic":[22,78,120,133,215,240],"policy":[23,79,121,134,216,241],"uncertainty":[24,80,122,135,217,242],"using":[25],"a":[26,170],"sample":[27],"Brazilian":[29],"firms":[30,97,99],"from":[31],"2002":[32],"2015.":[34],"Design/methodology/approach":[35],"employs":[38,59],"ordinary":[40],"least":[41],"squares":[42],"estimation":[43,64],"method":[44,65],"with":[45,68],"standard":[46],"errors":[47],"clustered":[48],"at":[49],"firm":[51,219],"level":[52],"for":[53,92,172],"preliminary":[54],"analysis,":[55],"besides":[56],"two-step":[61],"GMM":[62],"dynamic":[63],"deal":[67],"potential":[69],"endogeneity":[70],"issues.":[71],"Findings":[72],"First,":[73],"findings":[75],"show":[76],"that":[77,108,147,208,225],"disproportionately":[81],"contributes":[82],"illiquidity":[85],"and":[86,98,144,192],"impact":[88],"mainly":[90],"prominent":[91],"risky":[94],"companies,":[95],"small":[96],"competitive":[101],"industries.":[102],"Second,":[103],"author":[105,227],"provides":[106],"evidence":[107],"promote":[111],"more":[114],"via":[115],"information":[117],"channel":[118],"very":[124],"high.":[125],"Practical":[126],"implications":[127],"Given":[128],"adverse":[130,212],"effects":[131,213,238],"on":[136,210,218,243],"liquidity,":[138,158],"governments":[139],"need":[140,171],"swiftly":[142],"communicate":[143],"implement":[145],"policies":[146],"affect":[148],"capital":[150],"market":[151],"avoid":[153],"drying":[155],"up":[156],"which":[159,185],"exacerbated":[161],"by":[162],"communication":[163],"or":[164],"implementation":[165],"lags.":[166],"Also,":[167],"regulators":[174],"continuously":[176],"encourage":[177],"inclusion":[179],"independent":[181],"directors":[182],"boards,":[184],"helps":[186],"increase":[188],"monitoring":[190],"capacity":[191],"firms'":[194],"ability":[195],"respond":[197],"changes":[199],"external":[202],"environment.":[203],"Originality/value":[204],"Unlike":[205],"other":[206],"studies":[207],"focus":[209],"outcomes,":[220],"novel":[222],"contribution":[223],"uncovers":[228],"mitigating":[235],"negative":[237],"liquidity.":[245]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":11},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2021-04-13T00:00:00"}
