Does brand capital improve stock liquidity? Evidence from China
Muhammad Ansar Majeed,
Irfan Ullah,
Samia Tariq
et al.
Abstract:This study investigates how brand capital affects stock market liquidity. We posit that brand capital improves the corporate information environment, enhances competitiveness, and increases firm visibility ultimately resulting in higher stock liquidity. Using a sample of Chinese listed firms, we find a positive relationship between brand capital and stock liquidity. Further analyses show that the effect of brand capital is more pronounced for firms with low media coverage and analyst following. Moreover, the e… Show more
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