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determinants of Illiquidity on emerging stock markets:

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  • Prince Dubois HIKOUATCHA KENFACK

Abstract

The purpose of this study is to carry out to a comparative study of the determinants of illiquidity, between JSE and NSE, using the Generalized Least Square (GLS) method and the Generalized Method of Moment (GMM), on a stock panel. The obtained results show that stock return is the only illiquidity common factor in the studied markets. In addition, the trading value on the JSE and stock capitalization on the NSE, are the specific determinants of illiquidity. For the global market situation, the number of trading days and number of trades are factors, which permit the reduction of liquidity shortage.

Suggested Citation

  • Prince Dubois HIKOUATCHA KENFACK, 2018. "determinants of Illiquidity on emerging stock markets:," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 9(2), pages 2-19, December.
    • Handle: RePEc:jaf:journl:v:9:y:2018:i:2:n:130
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    More about this item

    Keywords

    determinants; illiquidity; JSE; NSE; emerging stock market; déterminants; illiquidité; JSE; NSE; marché boursier émergent;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • N8 - Economic History - - Micro-Business History
    • G3 - Financial Economics - - Corporate Finance and Governance

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