Management integrity and stock liquidity

Jiawei Cao, Haibo Li and Juandan Zhong

Finance Research Letters, 2025, vol. 76, issue C

Abstract: This research investigates how management integrity influences stock liquidity, utilizing data collected from A-share listed companies. We find that higher management integrity significantly enhances stock liquidity. This effect persists across different robustness checks. Furthermore, the positive influence of integrity is more significant in companies with weaker information environments and lower levels of governance. These findings underscore the role of management integrity in fostering transparency and trust, offering insights into how management characteristics can enhance financial market quality.

Keywords: Management integrity; Trust; Stock liquidity; Information environment; Corporate governance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:76:y:2025:i:c:s1544612325002338

DOI: 10.1016/j.frl.2025.106969

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