The Impact of Monetary Policy on Stock Market Liquidity and the Business Cycle in Indonesia

2017 ◽  
Author(s):  
Aldrin Herwany ◽  
Yayan - Satyakti ◽  
Wardhana Wardhana
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Business Cycle ◽  
Market Liquidity ◽  
Stock Market Liquidity ◽  
The Business Cycle ◽  
The Impact

Stock Market Liquidity and the Business Cycle

2010 ◽  
Author(s):  
Randi Naes ◽  
Johannes Atle Skjeltorp ◽  
Bernt Arne Ødegaard
Keyword(s):  
Stock Market ◽  
Business Cycle ◽  
Market Liquidity ◽  
Stock Market Liquidity ◽  
The Business Cycle

On the stock market liquidity and the business cycle: A multi country approach

2015 ◽  
Vol 38 ◽  
pp. 44-69 ◽  
Author(s):  
Emilios Galariotis ◽  
Evangelos Giouvris
Keyword(s):  
Stock Market ◽  
Business Cycle ◽  
Market Liquidity ◽  
Stock Market Liquidity ◽  
The Business Cycle

Stock Market Liquidity and the Business Cycle

2011 ◽  
Vol 66 (1) ◽  
pp. 139-176 ◽  
Author(s):  
RANDI NAES ◽  
JOHANNES A. SKJELTORP ◽  
BERNT ARNE ØDEGAARD
Keyword(s):  
Stock Market ◽  
Business Cycle ◽  
Market Liquidity ◽  
Stock Market Liquidity ◽  
The Business Cycle

The Impact of Reducing Tick Size on Malaysian’s Stock Market Liquidity

2017 ◽  
pp. 145-156
Author(s):  
Diana Baharuddin ◽  
Imbarine Bujang ◽  
Hamizah Hassan
Keyword(s):  
Stock Market ◽  
Market Liquidity ◽  
Tick Size ◽  
Stock Market Liquidity ◽  
The Impact

scholarly journals Monetary Policy and Liquidity of Vietnam’s Stock Market

2016 ◽  
Vol 23 (02) ◽  
pp. 02-21
Author(s):  
Ly Tran Thi Hai
Keyword(s):  
Time Series ◽  
Monetary Policy ◽  
Stock Market ◽  
Money Supply ◽  
Industrial Production ◽  
Market Liquidity ◽  
Var Model ◽  
Market Returns ◽  
Liquidity Measures ◽  
The Impact

This study investigates the impact of monetary policy on liquidity of Vietnam’s stock market from September 2007 to November 2014. Time series of liquidity are determined by monthly liquidity data for 643 enterprises in the surveyed period. Two variables of the monetary policy, including growth in money supply and interbank rate, are employed in VAR model along with four different measures of market liquidity. The results show that unexpected variance in the two monetary policy variables has no significant impact on the market liquidity, which, in turn, may be improved by the positive shocks of market returns, inflation, and growth in industrial production. Market variance does produce certain effects, but discrepancies occur in the signs of various liquidity measures.

Ownership concentration, earnings management and stock market liquidity: evidence from Malaysia

2017 ◽  
Vol 17 (3) ◽  
pp. 490-510 ◽  
Author(s):  
Hamdan Amer Al-Jaifi
Keyword(s):  
Stock Market ◽  
Earnings Management ◽  
Instrumental Variables ◽  
Generalized Method Of Moments ◽  
Market Liquidity ◽  
Ownership Concentration ◽  
Estimation Methods ◽  
Content Type ◽  
Stock Market Liquidity ◽  
The Impact

Purpose This paper aims to examine whether ownership concentration and earnings management affect the stock market liquidity of Malaysian firms. Design/methodology/approach This study uses a sample of 2,020 yearly firm observations in Bursa Malaysia over the period 2009-2012. The ordinary least square regression is used to examine the relationships. The study undertakes a sensitivity test by regressing the main study variables by using different measurements. Another robustness test is then used, where a regression based on the change in variables and a one-year lag of the independent variables are used. Furthermore, to alleviate the concern of possible endogeneity, the simultaneity and reverse causality are checked using the lag of the dependent variable, fixed effect regression, two-stage least squares using the instrumental variables and the generalized method of moments using instrumental variables analysis. Findings The study finds that firms with a high level of ownership concentration have discrepancies in information between informed and uninformed traders, which impair the stock market liquidity. In addition, this study finds that firms with high earnings management experience greater liquidity. A possible explanation for this is that firms might manage earnings to convey private information to enhance the information content of the earnings. Overall, the evidence suggests that manipulating earnings signals information informatively, particularly in a country with a higher level of ownership concentration and a higher likelihood of expropriating minority shareholders. Originality/value This study enriches the limited empirical research devoted to the impact of earnings management and ownership concentration on stock market liquidity especially in the context of emerging economies. The findings of this study are robust to alternative liquidity measurements, to alternative estimation methods, and to endogeneity bias.

scholarly journals Monetary Policy and its Impact on Stock Market Liquidity: Evidence from the Euro Zone

2011 ◽  
Author(s):  
Octavio Fernández-Amador ◽  
Martin Lukas Gächter ◽  
Martin Larch ◽  
Georg Peter
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Market Liquidity ◽  
Euro Zone ◽  
Stock Market Liquidity
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