Effect of corporate governance on stock market liquidity: empirical evidence from Indian companies

Sidhu, Manjit Kaur; Kaur, Parmjit

doi:10.1007/s40622-019-00221-w

Cited by 5 publications

(4 citation statements)

References 68 publications

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“…Empirical support of the significance of the function of corporate governance in improving stock market liquidity justifies the advantages of implementing certain regulations on firms with regards to ownership composition, board size, and CEO role (Sidhu and Kaur 2019). Economists in the past have invested in studies relating to the issues of separation and the controlling of ownership (Kong et al 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

The Role of Ownership Structure and Board Characteristics in Stock Market Liquidity

Abbassi

Hunjra

Alawi

et al. 2021

IJFS

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Corporate governance plays a significant role in the value of shareholders and share prices, hence stock market liquidity is affected. Previous research has mainly focused on the issue in developed markets, whereas in developing countries there is a need to analyze the influence of corporate governance on stock market liquidity. Therefore, the present study aims to examine the impact of ownership structure and board characteristics on stock market liquidity of non-financial firms of South Asian countries such as Pakistan, Sri Lanka, Bangladesh, and India. The data in the study is collected from the DataStream for the 2011–2020 period. The study uses a fixed effect model for the analysis of the data and hypotheses testing and generalized method of moments (GMM) is used to check the robustness of the results. The findings of the study indicate that institutional ownership, board size, board independence, and CEO duality have a significant and positive impact on stock market liquidity, whereas managerial ownership has a significant and negative effect on stock market liquidity.

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Section: Literature Reviewmentioning

confidence: 99%

The Role of Ownership Structure and Board Characteristics in Stock Market Liquidity

Abbassi

Hunjra

Alawi

et al. 2021

IJFS

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“…Table 6 shows the audit committee and risk disclosure are positive and somewhat significant ( t = 1.76 and P = 0.79). These results are significant to the results of Elshandidy et al (2018), Neri et al (2018), Salem et al (2019), Sarkar et al (2012) and Sidhu and Kaur (2019), which focussed on the constitution of the audit committee and conduct of regular meetings. As per clause 49, every listed company on average must meet four times a year; risk management is one of the crucial agendas of the audit committee.…”

Section: Resultsmentioning

confidence: 69%

“…A well-qualified and independent auditor plays a major role in protecting the interest of public at large. Larger audit committees usually prefer to have members with wider knowledge and expertise leading to efficient risk management (Salem et al, 2019;Sidhu & Kaur, 2019). Agency theory assumes that a strong audit committee with qualified staff can have control over directors and enhance risktaking behaviour (Elamer et al, 2018;JENSEN, 1993;Neri et al, 2018).…”

Section: Audit Committeementioning

confidence: 99%

Does Corporate Governance Impact Risk Disclosure? An Empirical Analysis in the Indian Context

Gupta

Symss

2023

Indian Journal of Corporate Governance

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This study aims at identifying the determinants of corporate governance that impact corporate risk disclosure in India’s top non-financial listed companies based on market capitalisation. The analysis of the study is based on risk disclosure practices of the leading non-financial listed companies using annual reports as well as risk disclosure practices in the presence of various regulations. The risk exposure is measured using manual content analysis while the impact is analysed using multiple regression. The empirical findings reveal that the corporate risk disclosure level has improved significantly. The major corporate governance variables namely board size and ownership are insignificant to risk disclosure whereas audit committee meetings and role duality are somewhat significant. Firms having bigger size plays a major role in risk disclosure practices of companies, on the other hand, liquidity and growth of the firm do not influence risk disclosure practice. Due to the constant fallouts of companies, this paper tries to analyse the role of corporate governance practices in minimising companies’ risk exposure. The results of the study help analyse the failures in corporate governance practices that lead to companies’ poor disclosure policies.

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“…Several researchers have different perspectives on the relationship between stock market liquidity and dividend policy. Some researchers focused on factors that affected stock liquidity (Manjit et al, (2019), Huang, (2020), Yihong et al, (2021)), whereas others focused on the dividends policy, the reasons behind its increase, and what influenced that increase (Victor et al, (2021), Quoc Trung Tran, (2021, Alberta et al, (2019)).…”

Section: Introductionmentioning

confidence: 99%

The Moderating role of Covid-19 Epidemic on the relation between Stock Market Liquidity and Firm Dividend Policy Applied research on the Egyptian Stock Market

Srour

2023

المجلة العلمیة للدراسات التجاریة والبیئیة

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This paper investigates the Influence of the Covid-19 Epidemic on the relation between stock market liquidity and firms' dividend payout policy applying to the Egyptian stock market. Methodology:OLS and Logistic regression analysis is conducted to explain the 2 models used for a sample of (81) Egyptian Companies. Three main hypotheses are tested: (1) there is no significant influence of the Egyptian stock market liquidity on dividend policy. (2) The covid19 epidemic has no significant impact on the relationship between the Egyptian stock market liquidity and dividend policy. (3) there is no significant difference impact between the Egyptian stock market liquidity and dividend policy before and during a covid-19 epidemic Findings: The result of this study is consistent with the majority of previous research indicating that stock market liquidity directly influences dividend policy. In addition, this paper demonstrates that Covid-19 has a detrimental impact on theThe Moderating role of Covid-19 Epidemic on the relation between Stock ...

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Effect of corporate governance on stock market liquidity: empirical evidence from Indian companies

Cited by 5 publications

References 68 publications

The Role of Ownership Structure and Board Characteristics in Stock Market Liquidity

The Role of Ownership Structure and Board Characteristics in Stock Market Liquidity

Does Corporate Governance Impact Risk Disclosure? An Empirical Analysis in the Indian Context

The Moderating role of Covid-19 Epidemic on the relation between Stock Market Liquidity and Firm Dividend Policy Applied research on the Egyptian Stock Market

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