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Financial Innovation

Table 3 Explaining liquidity

From: Empirical evidence on the ownership and liquidity of real estate tokens

 

Liquidity

Liquidity

Coefficient

t-statistic

coefficient

t-statistic

Token amount (NUM)

0.41

0.65

5.10

2.99*

Property value (VAL)

 − 0.004

 − 0.79

4.29

2.72*

Months since listed (AGE)

 − 0.59

 − 3.89*

2.59

1.75

DETROIT dummy

1.02

0.57

2.44

1.71

UNISWAP dummy

8.62

7.58*

3.76

3.03*

Transaction costs

 − 0.21

 − 3.08*

–

–

Month fixed effects

No

Yes

R-square

0.245

0.437

  1. Statistical significance at the 5% level indicated with a *
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