Firm's information environment and stock liquidity: evidence from Tunisian context
AbstractThis paper analyzes the relationship between public disclosure, private information and stock liquidity in the Tunisian market. We use 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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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28699.
Date of creation: Jan 2010
Date of revision: Feb 2011
corporate information disclosure; private information; stock liquidity; emerging market.;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
- NEP-ARA-2011-02-26 (MENA - Middle East & North Africa)
- NEP-CTA-2011-02-26 (Contract Theory & Applications)
- NEP-MST-2011-02-26 (Market Microstructure)
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