A REVIEW OF RELATION BETWEEN CORPORATE GOVERNANCE AND MARKET LIQUIDITY

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KASHANIPOOR M.; MEHRANI SASAN; PASHANEZHAD Y.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: Financial Accounting Research Year:2010 | Volume:2 | Issue:2 (4) Page(s): 61-76

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Title

A REVIEW OF RELATION BETWEEN CORPORATE GOVERNANCE AND MARKET LIQUIDITY

Author(s)

KASHANIPOOR M. | MEHRANI SASAN | PASHANEZHAD Y. | Issue Writer Certificate

Keywords

CORPORATE GOVERNANCE BID-ASK SPREADQ2

MARKET DEPTHQ2

MARKET LIQUIDITYQ3

Abstract

Investors rely on quality, quantity and timeliness of disclosed information for decision making. The way investors conduct with this information and their decision, would form the capacity of supply and demand or on the other hand MARKET DEPTH and offered prices of selling and buying. On the other hand, a well structured corporate governance system has a great role in directing investors and market players and realization of a liquid market. On the basis of this concept in this research, we study the relationship between corporate governance system and MARKET LIQUIDITY. A minimum of 100 days trading is required for the sample companies. In this regard, data of 61listed companies in Tehran stock exchange collected for 1386. Then, bid - ask spread information's and supply and demand volume has been collected and their relation with corporate governance quality has been examined. Results of the research show that companies with more independent board and more efficient approach have more MARKET LIQUIDITY in comparison with other companies. In fact, the companies which have better corporate governance quality grades, have less bid-ask spreads and less differential share demand and supply.

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APA: Copy

KASHANIPOOR, M., MEHRANI, SASAN, & PASHANEZHAD, Y.. (2010). A REVIEW OF RELATION BETWEEN CORPORATE GOVERNANCE AND MARKET LIQUIDITY. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 2(2 (4)), 61-76. SID. https://sid.ir/paper/155062/en

Vancouver: Copy

KASHANIPOOR M., MEHRANI SASAN, PASHANEZHAD Y.. A REVIEW OF RELATION BETWEEN CORPORATE GOVERNANCE AND MARKET LIQUIDITY. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2010;2(2 (4)):61-76. Available from: https://sid.ir/paper/155062/en

IEEE: Copy

M. KASHANIPOOR, SASAN MEHRANI, and Y. PASHANEZHAD, “A REVIEW OF RELATION BETWEEN CORPORATE GOVERNANCE AND MARKET LIQUIDITY,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 2, no. 2 (4), pp. 61–76, 2010, [Online]. Available: https://sid.ir/paper/155062/en

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