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Firm's information environment and stock liquidity: evidence from Tunisian context

  • Loukil, Nadia
  • Yousfi, Ouidad

This 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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File URL: http://mpra.ub.uni-muenchen.de/28699/1/MPRA_paper_28699.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 28699.

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Date of creation: Jan 2010
Date of revision: Feb 2011
Handle: RePEc:pra:mprapa:28699
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