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Firm's Information Environment and Stock Liquidity : Evidence from Tunisian Context

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  • Nadia Loukil

    (Fiesta)

  • Ouidad Yousfi

    (MRM)

Abstract

This paper analyzes the relationship between public disclosure, private information and stock liquidity in Tunisian context using a sample of 41 listed firms in the Tunis Stock Exchange in 2007. First, we find no evidence that there is a relation between public and private information. Second, Tunisian investors do not trust the information disclosed in both annual reports and web sites, consequently it has no effects on stock liquidity, in contrast with private information.

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Paper provided by arXiv.org in its series Papers with number 1304.4852.

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Date of creation: Apr 2013
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Publication status: Published in Journal of Accounting in Emerging Economies, 2, 1 (2011) 30
Handle: RePEc:arx:papers:1304.4852

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