Cryptocurrency Exchanges and Traditional Markets: A Multi-algorithm Liquidity Comparison Using Multi-criteria Decision Analysis

Tripathi, Bhaskar; Sharma, Rakesh Kumar

doi:10.1007/s10614-024-10655-9

Comput Econ

2024

DOI: 10.1007/s10614-024-10655-9

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Cryptocurrency Exchanges and Traditional Markets: A Multi-algorithm Liquidity Comparison Using Multi-criteria Decision Analysis

Bhaskar Tripathi,

Rakesh Kumar Sharma

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2024

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Joint Impact of Market Volatility and Cryptocurrency Holdings on Corporate Liquidity: A Comparative Analysis of Cryptocurrency Exchanges and Other Firms

Lee

2024

JRFM

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This study examines the impact of market volatility and cryptocurrency holdings on corporate liquidity, with a particular focus on the differences between cryptocurrency exchanges and other businesses. The analysis is based on 181 firm-year observations from 2017 to 2022, using Bitcoin volatility, VIX, and VKOSPI as indicators of market volatility. Ordinary Least Squares (OLS) and robust regression analyses are employed to assess the relationships between these variables. It is first noted that, albeit insignificant, market volatility has a detrimental influence on company liquidity. The positive correlation for cryptocurrency exchanges, however, suggests that cryptocurrency exchanges could potentially leverage market volatility as a strategic advantage. Additionally, the study shows that cryptocurrency holdings enhance corporate liquidity, with a stronger association observed in cryptocurrency exchanges. The analysis also incorporates lagged variables to capture delayed effects, confirming that cryptocurrency holdings exert both immediate and delayed positive impacts on liquidity, likely due to effective strategic management practices within exchanges.

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Joint Impact of Market Volatility and Cryptocurrency Holdings on Corporate Liquidity: A Comparative Analysis of Cryptocurrency Exchanges and Other Firms

Lee

2024

JRFM

View full text Add to dashboard Cite

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Cryptocurrency Exchanges and Traditional Markets: A Multi-algorithm Liquidity Comparison Using Multi-criteria Decision Analysis

Cited by 1 publication

References 34 publications

Joint Impact of Market Volatility and Cryptocurrency Holdings on Corporate Liquidity: A Comparative Analysis of Cryptocurrency Exchanges and Other Firms

Joint Impact of Market Volatility and Cryptocurrency Holdings on Corporate Liquidity: A Comparative Analysis of Cryptocurrency Exchanges and Other Firms

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