Ownership structure and stock market liquidity

... Goetzmann, W., and M Massa, 2002, Daily momentum and contrarian behavior of index fund investors, Journal of Financial and Quantitative Analysis 37, 375-389 Greenspan, A., 1999, Risk, liquidity, and ... News and Bond Prices: Evidence from U.S Treasury Market, forthcoming, Journal of Financial and Quantitative Analysis Ball, C., and T Chordia, 2001, True Spreads an...

Ngày tải lên: 23/04/2014, 16:11

... Chordia and Subrahmanyam (1995) for a simple model of how spread levels depend on inventory The direction of market movements could also trigger asymmetric e®ects on liquidity However, the market ... stock market tick size change from 1/8 to 1/16 was introduced on June 14, 1997, because this e®ect had an immediate and permanent impact on the stock market spread (see C...

Ngày tải lên: 23/04/2014, 16:29

... quality of accounting information in seven East Asian economies excluding Japan More specifically, we use the informativeness of accounting earnings to investors as a measure of the quality of accounting ... ownership structure and earnings informativeness in East Asia 3.3.1 Basic relations between returns and earnings Before we focus on the rol...

Ngày tải lên: 18/02/2014, 01:20

Ngày tải lên: 30/03/2014, 01:20

... of Market-wide Liquidity and Aggregate Trading Activity A Levels of Liquidity and Trading Activity Table I provides summary statistics of the basic market liquidity and trading activity measures ... strong evidence that liquidity and trading activity fall on Fridays • Tuesday tends to be accompanied by increased trading activity and increased liquidity...

Ngày tải lên: 23/04/2014, 16:29

... behavior in an emerging market This paper is examining an important issue among research topics in accounting and finance The importance behind examining the determinants of earnings management ... between ownership structure and earnings management practices among firms operating in an emerging market With globalalization of business and financial markets, there...

Ngày tải lên: 13/07/2014, 21:13

... determinants of liquidity indicates that market- wide returns, market- wide averages of individual stock volatilities, and world net bond flows are fundamental drivers of market- wide liquidity There ... that changes in market valuations affect liquidity, and market- wide averages of individual stock volatilities and world net bond flows are further fundamental drivers of market-...

Ngày tải lên: 02/11/2014, 00:41

... reform and act in accordance with international standards This study investigates the effects of firmlevel Corporate governance on Firm Value (Tobin’s Q as proxy), and Stock Market Performance (Total ... value and stock market performance for the period 200 6-2 009 The relationships, again either positive or negative, between each Corporate Governance s...

Ngày tải lên: 06/01/2015, 19:49

... Reproduced with permission of the copyright owner Further reproduction prohibited without permission STANDSTILL AGREEMENTS AND MARKET RESPONSE BASED ON OWNERSHIP STRUCTURE OF TARGET FIRMS by Farooq ... Reproduced with permission of the copyright owner Further reproduction prohibited without permission STANDSTILL AGREEMENTS AND MARKET RESPONSE BASED ON...

Ngày tải lên: 30/09/2015, 16:58

Ngày tải lên: 07/02/2013, 09:32

... any long run relationship between the trading volume and stock return in Vietnam?  Does the causal relationship between stock return and trading volume exist in Vietnam‟s stock market? If yes ... thesis investigated the relationship between return and trading volume in the Vietnam’s stock market in the context of Granger causality test...

Ngày tải lên: 27/09/2013, 21:58

... Pt + C Pt R = the rate of return on the security Pt+1 = price of the security at time t+1, the end of the holding period Pt = price of the security at time t, the beginning of the holding period ... Rationale Behind the Theory Rof > R* ⇒ Pt ↑ ⇒ Rof ↓ Rof < R* ⇒ Pt ↓ ⇒ Rof ↑ until Rof = R* In an efficient market all unexploited profit opportunities will be elim...

Ngày tải lên: 05/01/2014, 16:56

Ngày tải lên: 17/01/2014, 03:20

... intensive than those undertaken at inefficient banks Ownership and management characteristics A review of the financial characteristics of efficient and inefficient banks suggests that bank managers, ... State bank examination reports also commonly contain an examiner’s narrative discussion of the management of the bank and the individuals who dominate policymaking...

Ngày tải lên: 06/03/2014, 10:20

... Governance mechanisms and Ownership structure A study of Norwegian banks Abstract This paper work is written as a master thesis being a part of our Master of Science program in Business and ... governance mechanisms in banks with different ownership structures We will focus on internal mechanisms such as CEO dismissal and board turnover, and the external mechanism...

Ngày tải lên: 08/03/2014, 04:22