The Value Impact of Stock Liquidity: An International Evidence

2013 ◽  
Author(s):  
Tao Huang ◽  
Fei Wu ◽  
Jing Yu ◽  
Bohui Zhang
Keyword(s):  
Stock Liquidity ◽  
International Evidence

scholarly journals Asset Liquidity and Stock Liquidity: International Evidence

2013 ◽  
Vol 41 (3-4) ◽  
pp. 435-468 ◽  
Author(s):  
Charlie Charoenwong ◽  
Beng Soon Chong ◽  
Yung Chiang Yang
Keyword(s):  
Stock Liquidity ◽  
International Evidence ◽  
Asset Liquidity

scholarly journals Liquidity and Dividend Policy: International Evidence

2010 ◽  
Vol 3 (3) ◽  
pp. 3 ◽  
Author(s):  
Carroll Howard Griffin
Keyword(s):  
Inverse Relationship ◽  
Dividend Policy ◽  
International Level ◽  
Stock Liquidity ◽  
International Evidence

Since the days of Miller and Modigliani, academics have been studying dividend policy. There have been many theories as to why companies declare dividends, under what circumstances investors may prefer dividends to other forms of compensation, and factors that cause dividends to rise. However, the concept of liquidity has until very recently been largely ignored. This paper examines liquidity and dividend policy on the international level to determine what relationship the liquidity of a firm’s stock has on the decision of how much dividend to disburse to investors. It finds that in several specific cases, there is an inverse relationship between stock liquidity and the dividend amount paid. This perhaps would point to dividends indeed at times compensating for lower stock liquidity. 

scholarly journals Stock Market Liquidity And Dividend Policy In Korean Corporations

2017 ◽  
Vol 33 (4) ◽  
pp. 729 ◽  
Author(s):  
Jeong Hwan Lee ◽  
Bohyun Yoon
Keyword(s):  
Financial Markets ◽  
Dividend Policy ◽  
Empirical Studies ◽  
Explanatory Power ◽  
Negative Relationship ◽  
Market Liquidity ◽  
Stock Liquidity ◽  
International Evidence ◽  
Dividend Payments

The liquidity hypothesis predicts a negative relationship between stock liquidity and dividend payout propensity, i.e., a firm will decide to pay dividends to compensate for the liquidity demand of investors. This study comprehensively examines whether the liquidity hypothesis applies to the sample of Korean firms listed in the KOSPI and KOSDAQ markets. The main results of this paper are as follows. First, the dividend policy in Korean firms does not support the liquidity hypothesis, contradictory to the existing empirical studies. Next, the explanatory power of the liquidity hypothesis is even weaker for the KOSDAQ market, inconsistent with international evidence. Finally, even when we focus on the firm-year observations with non-negligible dividend payments, the liquidity hypothesis does not explain the dividend policy of Korean firms either. Our findings significantly contribute to the literature by robustly confirming the very limited role of the liquidity hypothesis for Korean financial markets.  

scholarly journals Stock liquidity and capital structure: International evidence

2019 ◽  
Vol 7 (1) ◽  
pp. 1587804 ◽  
Author(s):  
Tung Lam Dang ◽  
Hai Ly Ho ◽  
Chi Dzung Lam ◽  
Thanh Thao Tran ◽  
Xuan Vinh Vo ◽  
...  
Keyword(s):  
Capital Structure ◽  
Stock Liquidity ◽  
International Evidence

Institutional Ownership and Stock Liquidity: International Evidence

2018 ◽  
Vol 47 (1) ◽  
pp. 21-53 ◽  
Author(s):  
Tung Lam Dang ◽  
Thanh Huong Nguyen ◽  
Nguyen Tram Anh Tran ◽  
Thi Thuy Anh Vo
Keyword(s):  
Institutional Ownership ◽  
Stock Liquidity ◽  
International Evidence
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