Impact of Corporate Governance Compliance and Financial Crisis on Stock Liquidity: Evidence from Pakistan
This study examines the impact of corporate governance compliance and global financial crisis on stock liquidity of Pakistani listed non-financial firms. By using a sample of 170 firms for the period of 2007 to 2016, and employing fixed effect regression model, the study finds a positive relationsh...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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CSRC Publishing
2020-06-01
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| Series: | Journal of Accounting and Finance in Emerging Economies |
| Subjects: | |
| Online Access: | https://publishing.globalcsrc.org/ojs/index.php/jafee/article/view/1198 |
| Summary: | This study examines the impact of corporate governance compliance and global financial crisis on stock liquidity of Pakistani listed non-financial firms. By using a sample of 170 firms for the period of 2007 to 2016, and employing fixed effect regression model, the study finds a positive relationship between stock liquidity and corporate governance compliance, stating that more complied firms with the given code of corporate governance have better stock liquidity. The relationship of the global financial crisis with stock liquidity is negative and statistically significant, which means that stock liquidity of Pakistani listed firms is affected negatively during the global financial crisis. Conclusively, findings of the study signify the role of corporate governance compliance and financial crisis in determining stock liquidity of Pakistani listed firms, which have implications for investment and policymaking in Pakistan.
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| ISSN: | 2519-0318 2518-8488 |