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

Author Info

  • Nadia Loukil

    ()

    (Fiesta ISG de Tunis - Fiesta - Fiesta - ISG de Tunis)

  • Ouidad Yousfi

    ()

    (MRM - Montpellier Research in Management - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - Université Paul Valéry - Montpellier III - UM2 - Université Montpellier 2 - Sciences et Techniques - UM1 - Université Montpellier 1)

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 HAL in its series Post-Print with number hal-00813921.

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Date of creation: 2011
Date of revision:
Publication status: Published in Journal of Accounting in Emerging Economies,, 2011, 2 (1), pp.30
Handle: RePEc:hal:journl:hal-00813921
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00813921
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

Keywords: emergent market; corporate information disclosure; private information; stock liquidity; emergent market.;

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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; Personnel Economics - - Accounting - - - Accounting
  • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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