We present a study investigating how the delay between the intention to act and the following action, influenced the experience of action. In experiments investigating sense of agency and experience of action, the contrast is most often between voluntary and involuntary actions. It is rarely asked whether different types of intentions influence the experience of action differently. To investiga...

Enhanced stock liquidity increases a firm’s propensity to hold cash. This is surprising given the view that improved reduces financial constraints. We propose firms have repurchase motive for holding Higher strengthens this incentive. Consistent with this, more liquid increase cash holdings relatively when restrictions repurchases are eased. The effect of on not influenced by access credit mark...