Arbeitspapier
Privatization and stock market liquidity
Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market liquidity measures in a panel with monthly data of 19 developed economies. Privatization is shown to be key in improving domestic stock market liquidity, controlling for other economic, financial and institutional determinants. Results do not appear to be driven by reverse causality or non-stationarity of the data.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 105.2002
- Klassifikation
-
Wirtschaft
Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out
Information and Market Efficiency; Event Studies; Insider Trading
- Thema
-
Privatization
Financial Market Development
Privatisierung
Börsengang
Aktienmarkt
Liquidität
Industriestaaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bortolotti, Bernardo
de Jong, Frank
Nicodano, Giovanna
Schindele, Ibolya
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bortolotti, Bernardo
- de Jong, Frank
- Nicodano, Giovanna
- Schindele, Ibolya
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2002
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