Some suggested areas for future studies include: dark pools, high-frequency trading, commonality in liquidity premium, funding liquidity, liquidity and capital structure, and liquidity and transparency. The impact of internationalization on liquidity is not universal across firms and countries. Liquidity is positively associated with firm transparency and share issuance, and negatively related to dividends paid out. Both the liquidity level and liquidity uncertainty are priced internationally. ![]() Liquidity co-varies within and across countries. ![]() The literature has identified the most appropriate liquidity measures for global research, and for emerging and frontier markets, respectively. ![]() the presence of market makers) and regulations (e.g. – Market liquidity is influenced by exchange characteristics (e.g. Important relevant single-country studies are also discussed. – International cross-country studies on stock market liquidity are categorized and reviewed. ![]() – The purpose of this paper is to review the literature on liquidity in international stock markets, highlights differences and similarities in empirical results across existing studies, and identifies areas requiring further research.
0 Comments
Leave a Reply. |