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Ownership level, ownership concentration and liquidity

Citations

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Cited by:

  1. Chung, Won Young & Lee, Jae-Gil & Seo, Jaeun & Kim, Jaeyun & Jo, Yuri & Lee, Daeho, 2022. "From whom should ICT startups raise capital? The effect of ownership structure on efficiency in new ICT startups," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 82-91.
  2. Jana P. Fidrmuc & Alessandro Palandri & Peter Roosenboom & Dick van Dijk, 2013. "When Do Managers Seek Private Equity Backing in Public-to-Private Transactions?," Review of Finance, European Finance Association, vol. 17(3), pages 1099-1139.
  3. Loukil, Nadia & Yousfi, Ouidad, 2010. "Firm's information environment and stock liquidity: evidence from Tunisian context," MPRA Paper 28699, University Library of Munich, Germany, revised Feb 2011.
  4. Tsionas, Mike G. & Merikas, Andreas G. & Merika, Anna A., 2012. "Concentrated ownership and corporate performance revisited: The case of shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(4), pages 843-852.
  5. Lim, Kian-Ping & Thian, Tze-Chung & Hooy, Chee-Wooi, 2017. "Investor heterogeneity, trading account types and competing liquidity channels for Malaysian stocks," Research in International Business and Finance, Elsevier, vol. 41(C), pages 220-234.
  6. Ding, Mingfa, 2014. "Political Connections and Stock Liquidity: Political Network, Hierarchy and Intervention," Knut Wicksell Working Paper Series 2014/7, Lund University, Knut Wicksell Centre for Financial Studies.
  7. Ding, Mingfa & Nilsson, Birger & Suardi, Sandy, 2013. "Foreign Institutional Investors and Stock Market Liquidity in China: State Ownership, Trading Activity and Information Asymmetry," Working Papers 2013:10, Lund University, Department of Economics, revised 11 Jun 2013.
  8. Namazi, Mohammad & Shokrolahi, Ahmad & Sadeghzadeh Maharluie, Mohammad, 2016. "Detecting and ranking cash flow risk factors via artificial neural networks technique," Journal of Business Research, Elsevier, vol. 69(5), pages 1801-1806.
  9. Ghadhab, Imen, 2018. "Arbitrage opportunities and liquidity: An intraday event study on cross-listed stocks," Journal of Multinational Financial Management, Elsevier, vol. 46(C), pages 1-10.
  10. Bilinski, Pawel & Liu, Weimin & Strong, Norman, 2012. "Does liquidity risk explain low firm performance following seasoned equity offerings?," Journal of Banking & Finance, Elsevier, vol. 36(10), pages 2770-2785.
  11. Jia Jia Hing & Yee Peng Chow, 2022. "Influence of institutional investor heterogeneity on stock liquidity and its underlying liquidity channels," International Journal of Business and Emerging Markets, Inderscience Enterprises Ltd, vol. 14(3), pages 252-278.
  12. Aymen Ajina & Faten Lakhal & Danielle Sougné, 2015. "Institutional investors, information asymmetry and stock market liquidity in France," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 11(1), pages 44-59, February.
  13. Ricardo Campos-Espinoza & Hanns de la Fuente-Mella & Berta Silva-Palavecinos & David Cademartori-Rosso, 2015. "Adopting the IFRS and its impact on reducing information asymmetry in the Chilean capital market," Netnomics, Springer, vol. 16(3), pages 193-204, December.
  14. Poon, Ser-Huang & Rockinger, Michael & Stathopoulos, Konstantinos, 2013. "Market liquidity and institutional trading during the 2007–8 financial crisis," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 86-97.
  15. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "More shareholders, higher liquidity? Evidence from an emerging stock market," Emerging Markets Review, Elsevier, vol. 44(C).
  16. Rhee, S. Ghon & Wang, Jianxin, 2009. "Foreign institutional ownership and stock market liquidity: Evidence from Indonesia," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1312-1324, July.
  17. Gholamhossein Mahdavi & Mohammad Sadeghzadeh Maharluie & Ahmad Shokrolahi, 2017. "The Use of Artificial Neural Networks for Quantifying the Relative Importance of the Firms' Performance Determinants," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 119-127.
  18. Rao, Lanlan & Zhou, Liyun, 2019. "Crash risk, institutional investors and stock returns," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
  19. Pham, Mia Hang, 2020. "In law we trust: Lawyer CEOs and stock liquidity," Journal of Financial Markets, Elsevier, vol. 50(C).
  20. Mary J. Benner & Todd Zenger, 2016. "The Lemons Problem in Markets for Strategy," Strategy Science, INFORMS, vol. 1(2), pages 71-89, June.
  21. Sophie Steins Bisschop & Martijn Boermans & Jon Frost, 2016. "A shock to the system? Market illiquidity and concentrated holdings in European bond markets," DNB Occasional Studies 1401, Netherlands Central Bank, Research Department.
  22. Lee, Jieun & Chung, Kee H., 2018. "Foreign ownership and stock market liquidity," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 311-325.
  23. Sakawa, Hideaki & Ubukata, Masato & Watanabel, Naoki, 2014. "Market liquidity and bank-dominated corporate governance: Evidence from Japan," International Review of Economics & Finance, Elsevier, vol. 31(C), pages 1-11.
  24. Mohammad Reza Dalvi & Ebrahim Baghi, 2014. "Evaluate the Relationship between Company Performance and Stock Market Liquidity," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(1), pages 136-144, January.
  25. Wang, Xiaoqiong & Wei, Siqi, 2021. "Does the investment horizon of institutional investors matter for stock liquidity?," International Review of Financial Analysis, Elsevier, vol. 74(C).
  26. Oprica, Silviu & Weistroffer, Christian, 2019. "Institutional presence in secondary bank bond markets: how does it affect liquidity and volatility?," Working Paper Series 2276, European Central Bank.
  27. Batten, Jonathan A. & Vo, Xuan Vinh, 2015. "Foreign ownership in emerging stock markets," Journal of Multinational Financial Management, Elsevier, vol. 32, pages 15-24.
  28. Sudhakara Reddy Syamala & Yogesh Chauhan & Kavita Wadhwa, 2014. "Institutional Investors and Stock Liquidity: Evidence from Indian Stock Market," Global Business Review, International Management Institute, vol. 15(3), pages 461-476, September.
  29. Jiang, Haiyan & Habib, Ahsan & Hu, Baiding, 2011. "Ownership concentration, voluntary disclosures and information asymmetry in New Zealand," The British Accounting Review, Elsevier, vol. 43(1), pages 39-53.
  30. Vaalmikki Argoon & Spiros Bougheas & Chris Milner, 2013. "Lead-Lag Relationships and Institutional Ownership: Evidence from an Embryonic Equity Market," Discussion Papers 2013/08, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
  31. Lim, Kian-Ping & Thian, Tze-Chung & Hooy, Chee-Wooi, 2015. "Corporate Shareholdings and the Liquidity of Malaysian Stocks: Investor Heterogeneity, Trading Account Types and the Underlying Channels," MPRA Paper 67602, University Library of Munich, Germany.
  32. Theresa Kuchler & Yan Li & Lin Peng & Johannes Stroebel & Dexin Zhou, 2022. "Social Proximity to Capital: Implications for Investors and Firms," Review of Financial Studies, Society for Financial Studies, vol. 35(6), pages 2743-2789.
  33. David Cademartori-Rosso & Berta Silva-Palavecinos & Ricardo Campos-Espinoza & Hanns de la Fuente-Mella, 2017. "An Econometric Analysis for the Bid-Ask Spread in the Emerging Chilean Capital Market," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(7), pages 90-101, May.
  34. Edith Ginglinger & Laure Matsoukis & Fabrice Riva, 2013. "Seasoned Equity Offerings: Stock Market Liquidity and the Rights Offer Paradox," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 40(1-2), pages 215-238, January.
  35. Ding, Xiaoya (Sara) & Ni, Yang & Zhong, Ligang, 2016. "Free float and market liquidity around the world," Journal of Empirical Finance, Elsevier, vol. 38(PA), pages 236-257.
  36. Arjoon, Vaalmikki & Bougheas, Spiros & Milner, Chris, 2016. "Lead-lag relationships in an embryonic stock market: Exploring the role of institutional ownership and liquidity," Research in International Business and Finance, Elsevier, vol. 38(C), pages 262-276.
  37. Xue, Xiaolin & Zhang, Junrui & Yu, Yangxin, 2020. "Distracted passive institutional shareholders and firm transparency," Journal of Business Research, Elsevier, vol. 110(C), pages 347-359.
  38. Nadia Belkhir Boujelbene & Abdelfatteh Bouri & Jean-Luc Prigent, 2011. "Ownership structure and stock market liquidity: evidence from Tunisia," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 3(1), pages 91-109.
  39. Ding, Mingfa & Suardi, Sandy, 2019. "Government ownership and stock liquidity: Evidence from China," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
  40. Rubin, Amir & Smith, Daniel R., 2009. "Institutional ownership, volatility and dividends," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 627-639, April.
  41. Byun, Hae-Young & Hwang, Lee-Seok & Lee, Woo-Jong, 2011. "How does ownership concentration exacerbate information asymmetry among equity investors?," Pacific-Basin Finance Journal, Elsevier, vol. 19(5), pages 511-534, November.
  42. Diego Cueto & Lorne Switzer, 2015. "Intraday market liquidity, corporate governance, and ownership structure in markets with weak shareholder protection: evidence from Brazil and Chile," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(2), pages 395-419, May.
  43. Tran, Ly Thi Hai & Hoang, Thao Thi Phuong & Tran, Hoa Xuan, 2018. "Stock liquidity and ownership structure during and after the 2008 Global Financial Crisis: Empirical evidence from an emerging market," Emerging Markets Review, Elsevier, vol. 37(C), pages 114-133.
  44. Muhammad Sadil Ali & Shujahat Haider Hashmi, 2018. "Impact of Institutional Ownership on Stock Liquidity: Evidence from Karachi Stock Exchange, Pakistan," Global Business Review, International Management Institute, vol. 19(4), pages 939-951, August.
  45. Roll, Richard & Subrahmanyam, Avanidhar, 2010. "Liquidity skewness," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2562-2571, October.
  46. Xuan Vinh Vo, 2016. "Foreign ownership and stock market liquidity - evidence from Vietnam," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 6(1), pages 1-11.
  47. repec:dau:papers:123456789/10852 is not listed on IDEAS
  48. Xuan Vinh Vo, 2023. "Large Shareholders And Information Asymmetry In A Transition Economy €“ Evidence From Vietnam," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 68(05), pages 1551-1567, September.
  49. Boermans, Martijn Adriaan & Frost, Jon & Steins Bisschop, Sophie, 2016. "European bond markets: Do illiquidity and concentration aggravate price shocks?," Economics Letters, Elsevier, vol. 141(C), pages 143-146.
  50. Ying Wang & Jing Zhao, 2015. "Hedge Funds and Corporate Innovation," Financial Management, Financial Management Association International, vol. 44(2), pages 353-385, June.
  51. Edith Ginglinger & Jacques Hamon, 2012. "Ownership, control and market liquidity," Finance, Presses universitaires de Grenoble, vol. 33(2), pages 61-99.
  52. Nadia Belkhir Boujelbene & Abdelfatteh Bouri & Jean-Luc Prigent, 2014. "Corporate Governance and Market Microstructure: Evidence on Institutional Investors in the Tunisian Stock Exchange," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 58-71, April.
  53. Baochen Yang & Yifang Liu & Yunpeng Su, 2023. "Earnings communication conferences and post‐earnings‐announcement drift: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2145-2185, June.
  54. Michael, Michael & Ali, Muhammad Jahangir & Atawnah, Nader & Muniandy, Balachandran, 2022. "Fiduciary or loyalty? Evidence from top management counsel and stock liquidity," Global Finance Journal, Elsevier, vol. 52(C).
  55. Hou, Canran & Liu, Huan, 2023. "Institutional cross-ownership and stock price crash risk," Research in International Business and Finance, Elsevier, vol. 65(C).
  56. Majd Iskandrani & Asma'a Al-Amarneh, 2017. "The Effect of Ownership Composition on Stock's Liquidity: Evidence from Weak Corporate Governance Setting," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 676-683.
  57. Mingfa Ding & Birger Nilsson & Sandy Suardi, 2017. "Foreign Institutional Investment, Ownership, and Liquidity: Real and Informational Frictions," The Financial Review, Eastern Finance Association, vol. 52(1), pages 101-144, February.
  58. repec:dau:papers:123456789/3035 is not listed on IDEAS
  59. Shih-Chuan Tsai, 2014. "Individuals’ Trading Prior to Earnings Announcements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(9-10), pages 1124-1156, November.
  60. Chung, Dennis Y. & Hrazdil, Karel & Trottier, Kim, 2015. "On the efficiency of intra-industry information transfers: The dilution of the overreaction anomaly," Journal of Banking & Finance, Elsevier, vol. 60(C), pages 153-167.
  61. Wang, Anxing & Zhou, Jimei & Chen, Tao, 2011. "Which institutions matter to short-term market efficiency in Japan?," Research in Economics, Elsevier, vol. 65(3), pages 164-179, September.
  62. Vo, Xuan Vinh, 2010. "Foreign ownership in Vietnam stock markets - an empirical analysis," MPRA Paper 29863, University Library of Munich, Germany, revised 10 Jan 2011.
  63. Udomsirikul, Prasit & Jumreornvong, Seksak & Jiraporn, Pornsit, 2011. "Liquidity and capital structure: The case of Thailand," Journal of Multinational Financial Management, Elsevier, vol. 21(2), pages 106-117, April.
  64. Ning Liu & Wei Xu, 2017. "Stock liquidity on China NEEQ exchange," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(2), pages 255-275, August.
  65. Van Ha Nguyen & Frank W Agbola & Bobae Choi, 2019. "Does corporate social responsibility reduce information asymmetry? Empirical evidence from Australia," Australian Journal of Management, Australian School of Business, vol. 44(2), pages 188-211, May.
  66. Kryzanowski, Lawrence & Lazrak, Skander & Rakita, Ian, 2010. "Behavior of liquidity and returns around Canadian seasoned equity offerings," Journal of Banking & Finance, Elsevier, vol. 34(12), pages 2954-2967, December.
  67. Martijn Boermans & Viacheslav Keshkov, 2018. "The impact of the ECB asset purchases on the European bond market structure: Granular evidence on ownership concentration," DNB Working Papers 590, Netherlands Central Bank, Research Department.
  68. Alex Edmans, 2014. "Blockholders and Corporate Governance," Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 23-50, December.
  69. repec:dau:papers:123456789/9676 is not listed on IDEAS
  70. Yensen Ni & Yulu Liao & Paoyu Huang, 2017. "Foreign Institutional Investors, Shareholding Change, and Corporate Governance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(4), pages 764-775, April.
  71. Nyborg, Kjell & Wang, Zexi, 2013. "Stock Liquidity and Corporate Cash Holdings," CEPR Discussion Papers 9535, C.E.P.R. Discussion Papers.
  72. repec:hur:ijaraf:v:4:y:2014:i:2:p:62-75 is not listed on IDEAS
  73. Jiang, Christine X. & Kim, Jang-Chul & Zhou, Dan, 2011. "Liquidity, analysts, and institutional ownership," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 335-344.
  74. Natalia Matanova & Tanja Steigner & Bingsheng Yi & Qiancheng Zheng, 2019. "Going concern opinions and IPO pricing accuracy," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 195-238, July.
  75. Kale, Jayant R. & Loon, Yee Cheng, 2011. "Product market power and stock market liquidity," Journal of Financial Markets, Elsevier, vol. 14(2), pages 376-410, May.
  76. Alex Edmans & Gustavo Manso, 2011. "Governance Through Trading and Intervention: A Theory of Multiple Blockholders," Review of Financial Studies, Society for Financial Studies, vol. 24(7), pages 2395-2428.
  77. Lilian Ng & Fei Wu & Jing Yu & Bohui Zhang, 2016. "Foreign Investor Heterogeneity and Stock Liquidity around the World," Review of Finance, European Finance Association, vol. 20(5), pages 1867-1910.
  78. Hoang Luong Luong & Huong Giang (Lily) Nguyen & Xiangkang Yin, 2015. "When Is a Firm's Information Asymmetry Priced? The Role of Institutional Investors," International Review of Finance, International Review of Finance Ltd., vol. 15(1), pages 55-88, March.
  79. Jieun Lee, 2018. "Who Improves or Worsens Liquidity in the Korean Treasury Bond Market?," Working Papers 2018-3, Economic Research Institute, Bank of Korea.
  80. repec:dau:papers:123456789/2709 is not listed on IDEAS
  81. Gjerde, Tom & Mahenthiran, Sakthi & Cademartori, David, 2013. "Effect of ownership, governance, and transparency on liquidity – Chilean evidence," Journal of Contemporary Accounting and Economics, Elsevier, vol. 9(2), pages 183-202.
  82. Laíse Ferraz Correia & Hudson Fernandes Amaral, 2014. "Determinants of Market Liquidity of Shares Traded on the BM&FBOVESPA," Brazilian Business Review, Fucape Business School, vol. 11(6), pages 75-97, December.
  83. Jens Dick-Nielsen & Jacob Gyntelberg, 2019. "Highly Liquid Mortgage Bonds Using the Match Funding Principle," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-37, December.
  84. Broere, Mark & Christmann, Robin, 2021. "Takeovers, shareholder litigation, and the free-riding problem," International Review of Law and Economics, Elsevier, vol. 65(C).
  85. Hearn, Bruce, 2014. "The political institutional and firm governance determinants of liquidity: Evidence from North Africa and the Arab Spring," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 31(C), pages 127-158.
  86. Chuang, Wen-I & Lee, Bong-Soo, 2011. "The informational role of institutional investors and financial analysts in the market," Journal of Financial Markets, Elsevier, vol. 14(3), pages 465-493, August.
  87. Martijn Adriaan Boermans & Robert Vermeulen, 2016. "Market concentration in the euro area bond markets - An application with granular sectoral securities holdings statistics / Investor heterogeneity and international portfolio holdings: Estimating a gr," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Combining micro and macro data for financial stability analysis, volume 41, Bank for International Settlements.
  88. Edmans, Alex & Holderness, Clifford, 2016. "Blockholders: A Survey of Theory and Evidence," CEPR Discussion Papers 11442, C.E.P.R. Discussion Papers.
  89. repec:dau:papers:123456789/2939 is not listed on IDEAS
  90. Malay Dey & B. Radhakrishna, 2015. "Informed trading, institutional trading, and spread," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(2), pages 288-307, April.
  91. Che, Limei, 2018. "Investor types and stock return volatility," Journal of Empirical Finance, Elsevier, vol. 47(C), pages 139-161.
  92. Jieun Lee & Kee H. Chung, 2015. "Foreign Ownership, Legal System and Stock Market Liquidity," Working Papers 2015-15, Economic Research Institute, Bank of Korea.
  93. Lee, Jieun & Ryu, Doojin, 2019. "How does FX liquidity affect the relationship between foreign ownership and stock liquidity?," Emerging Markets Review, Elsevier, vol. 39(C), pages 101-119.
  94. Stefano Alderighi, 2017. "A note on how to enhance liquidity in emerging markets by levering on trading participants," Economics Bulletin, AccessEcon, vol. 37(4), pages 2526-2532.
  95. Hearn, Bruce & Piesse, Jenifer, 2013. "Firm level governance and institutional determinants of liquidity: Evidence from Sub Saharan Africa," International Review of Financial Analysis, Elsevier, vol. 28(C), pages 93-111.
  96. Prommin, Panu & Jumreornvong, Seksak & Jiraporn, Pornsit & Tong, Shenghui, 2016. "Liquidity, ownership concentration, corporate governance, and firm value: Evidence from Thailand," Global Finance Journal, Elsevier, vol. 31(C), pages 73-87.
  97. Esmaeel Farzaneh Kargar & Eesa Zarei, 2014. "Reviewing the Relationship between Institutional Ownership and Outside Members of Board of Directors, and Liquidity of Common Stocks of Companies Quoted in Tehran Stock Exchange," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 218-231, April.
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