تحقیقات جهانی بازار بورس

How do markets value stock liquidity? Comparative evidence from the UK, the US, Germany and China

Abstract

We examine the relationship between stock liquidity and returns before, during and after the 2007–2009 financial crisis. We obtain evidence of a positive association for Germany and the UK, whereas China exhibits the opposite result and the US provides inconclusive evidence.

Keywords

Liquidity
Stock returns
Amihud ratio
German stock market
UK stock market US stock market
China stock market

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