Impact of Corporate Governance Compliance and Financial Crisis on Stock Liquidity: Evidence from Pakistan
Javed Khan and
Shafiq Ur Rehman
Journal of Accounting and Finance in Emerging Economies, 2020, vol. 6, issue 2, 475-486
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. &&
Keywords: Corporate governance compliance; global financial crisis; stock liquidity; Pakistani listed firms (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:src:jafeec:v:6:y:2020:i:2:p:475-486
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