Non-fundamental Information Disclosure and Discretionary Liquidity Trading

This replication folder provides the codes and data to replicate all the results of the paper entitled ‘Non-fundamental Information Disclosure and Discretionary Liquidity Trading’. The zip file includes the files necessary to replicate the empirical results illustrated in the paper. The readme.pdf file contains useful information on the replication folder. Please read it before using the replication folder. If you have any problems or questions, please do not hesitate to contact Hong Liu. [e-mail].