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Internal control and stock liquidity

Author

Listed:
  • Sun, Yahui
  • Huang, Yating
  • Feng, Qindi

Abstract

This paper examines the correlation between corporate internal control and stock liquidity by utilizing data from China's A-share listed companies spanning the period from 2012 to 2022. It is observed that a higher quality of internal control positively signals to the capital market, thereby enhancing the stock liquidity of the enterprise. Furthermore, compared to state-owned enterprises, earnings quality serves as a partial intermediary in the process where internal control influences stock liquidity. However, for non-state-owned enterprises, the improvement in the quality of internal control is more notably effective in augmenting stock liquidity.

Suggested Citation

  • Sun, Yahui & Huang, Yating & Feng, Qindi, 2024. "Internal control and stock liquidity," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324007463
    DOI: 10.1016/j.frl.2024.105716
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