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Stock market liquidity and firm value☆
Journal of Financial Economics, 2009 This paper investigates the relation between stock liquidity and firm performance. The study shows that firms with liquid stocks have better performance as measured by the firm market-to-book ratio. This result is robust to the inclusion of industry or firm fixed effects, a control for idiosyncratic risk, a control for endogenous liquidity using two ...
Vivian W. Fang +2 more
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Liquidity in the German Stock Market [PDF]
Schmalenbach Business Review, 2019 This paper presents the most extensive analysis of liquidity in the German equity market so far. We examine the evolution of liquidity over time, the determinants of liquidity, and commonality across liquidity measures and countries. We make use of a new publicly available dataset, the Market Microstructure Database Xetra (MMDB-Xetra).
Johann, Thomas +4 more
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Journal of Mathematics, 2021 Liquidity reflects the quality of the market. When the market is short of liquidity, it often causes investors’ trading difficulties and stock price volatility, expanding the investment risk.
Hairong Cui, Jinfeng Fei, Xunfa Lu
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COVID-19 and Stock Market Liquidity: An Analysis of Emerging and Developed Markets
Scientific Annals of Economics and Business, 2021 Using a panel of indices for five developed market and five emerging markets for the period from 31 December 2019 to 19 June 2020, the relationship between stock market liquidity and COVID-19 pandemic is examined.
Godfrey Marozva +1 more
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Exchange trading rules and stock market liquidity☆ [PDF]
Journal of Financial Economics, 2009 Abstract We examine stock exchange trading rules for market manipulation, insider trading, and broker–agency conflict, across countries and over time, in 42 stock exchanges around the world. Some stock exchanges have extremely detailed rules that explicitly prohibit specific manipulative practices, but others use less precise and broadly framed rules.
Johan, S, Cumming, D, Li, D
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Sustainable Business and Society in Emerging Economies, 2021 : The objective of this study is to examine the long run and short run relationship between oil prices and stock market liquidity in Pakistan stock exchange. Design/Methodology/Approach: The sample spans 10 years from 2010 to 2019.
Sania Sarfraz +2 more
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Liquidity in Asian Financial Markets: Crowding Out or Spillover Effect
Applied Finance Letters, 2020 The paper attempts to explore the relationship between the stock market and the corporate bond market, with a focus on the inter-dependency of liquidity between the two markets.
Sonal Thukral, Rahul Sikka
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International Journal of Financial Studies, 2021 In light of previous literature that has investigated the effects of MiFID and MiFID II regulation on stock market liquidity, we investigate whether the introduction of MiFID II in Romania has had any effect on the stock market liquidity.
Marius Cristian Miloș +3 more
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The Influence of Foreign Institutional Ownership on the Stock Liquidity in China Based on Data Analysis [PDF]
E3S Web of Conferences, 2020 The negative impact of foreign participation on the liquidity of companies that allow a high degree of foreign institutional ownership has been widely documented.
Shen Zitang
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Legal Insider Trading and Stock Market Liquidity [PDF]
De Economist, 2015 This paper assesses the impact of legal trades by corporate insiders on the liquidity of the firm’s stock. For this purpose, we analyze two liquidity measures and one information asymmetry measure. The analysis allows us to study as well the effect of a change in insider trading regulation, namely the implementation of the Market Abuse Directive ...
Degryse, Hans +2 more
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