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

  • Nadia Loukil

    ()

    (Fiesta - Fiesta - ISG de Tunis)

  • Ouidad Yousfi

    ()

    (MRM - Montpellier Recherche en Management - Université Montpellier II - Sciences et techniques : EA4557 - Université Montpellier I - Université Paul Valéry - Montpellier III - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

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
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Publication status: Published, Journal of Accounting in Emerging Economies,, 2011, 2, 1, 30
Handle: RePEc:hal:journl:hal-00813921
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00813921
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