{"title":"新兴股市流动性不足的决定因素:","authors":"Prince Dubois HIKOUATCHA KENFACK","doi":"10.59051/joaf.v9i2.162","DOIUrl":null,"url":null,"abstract":"The purpose of this study is to carry out to a comparative study of the determinants of illiquidity, between JSE and NSE, using the Generalized Least Square (GLS) method and the Generalized Method of Moment (GMM), on a stock panel. The obtained results show that stock return is the only illiquidity common factor in the studied markets. In addition, the trading value on the JSE and stock capitalization on the NSE, are the specific determinants of illiquidity. For the global market situation, the number of trading days and number of trades are factors, which permit the reduction of liquidity shortage.","PeriodicalId":427059,"journal":{"name":"Journal of Academic Finance","volume":"53 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"determinants of Illiquidity on emerging stock markets:\",\"authors\":\"Prince Dubois HIKOUATCHA KENFACK\",\"doi\":\"10.59051/joaf.v9i2.162\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The purpose of this study is to carry out to a comparative study of the determinants of illiquidity, between JSE and NSE, using the Generalized Least Square (GLS) method and the Generalized Method of Moment (GMM), on a stock panel. The obtained results show that stock return is the only illiquidity common factor in the studied markets. In addition, the trading value on the JSE and stock capitalization on the NSE, are the specific determinants of illiquidity. For the global market situation, the number of trading days and number of trades are factors, which permit the reduction of liquidity shortage.\",\"PeriodicalId\":427059,\"journal\":{\"name\":\"Journal of Academic Finance\",\"volume\":\"53 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2018-12-31\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Academic Finance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.59051/joaf.v9i2.162\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Academic Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.59051/joaf.v9i2.162","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
determinants of Illiquidity on emerging stock markets:
The purpose of this study is to carry out to a comparative study of the determinants of illiquidity, between JSE and NSE, using the Generalized Least Square (GLS) method and the Generalized Method of Moment (GMM), on a stock panel. The obtained results show that stock return is the only illiquidity common factor in the studied markets. In addition, the trading value on the JSE and stock capitalization on the NSE, are the specific determinants of illiquidity. For the global market situation, the number of trading days and number of trades are factors, which permit the reduction of liquidity shortage.
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