Impact of ownership concentration, institutional ownership and earnings management on stock market liquidity
Corporate Ownership and Control , Volume 17, pp 77-87; doi:10.22495/cocv17i2art7
Abstract: Ownership structure plays a vital role in stock market liquidity. We analyze the impact of ownership concentration, institutional ownership and earnings management on stock market liquidity. We select 114 firms from manufacturing sector of Pakistan, India, Australia and Singapore. We extract data from DataStream from 2010 to 2018 of selected countries. We apply Generalized Method of Moments (GMM) to analyze the data. We find that ownership concentration, institutional ownership and earnings management significantly affect the stock market liquidity.
Keywords: Australia / structure / market / earnings management / institutional ownership / stock / Ownership Concentration / Datastream / Ownership and Earnings
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