Financial Market Volatility and Primary Placements

Financial Market Volatility and Primary

Placements*

Fabrizio Casalinaʌ Enzo Dia^b

^a Newcastle University Business School, Newcastle upon Tyne, NE1 7RU, UK.

^b Department of Economics, Universita degli Studi di Milano Bicocca, Milan, Italy.

Abstract

This paper studies empirically the link between financial markets volatil-
ity and primary placements of stocks and bonds for the US economy. We
find that the impact of volatility on primary placements is not statistically
significant.

Keywords: Financial risk; Primary placements

JEL classification: G32

^*We thank Jacques Melitz, Luca Stanca and Patrizio Tirelli for useful comments.
^Corresponding author. Tel.: +44-0191-222-6850; Email: [email protected].

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