West Africa Liquidity Regional Listing BH - 14-May-2013.pdf (539.11 kB)
The liquidity-cost implications from the attraction of regional primary listings: evidence from West Africa
journal contribution
posted on 2023-06-09, 03:45 authored by Bruce HearnThis study reviews the liquidity costs for firms in outlying regions in primary listing on a centralized stock exchange. Using a unique hand-collected sample comprising all listed firms from across West Africa we find evidence that firms from outlying regions do have higher illiquidity costs although these can be mitigated from improvements in transparency that are associated with increasing familiarity amongst investment community of central exchange. This evidence has implications regarding the integration of stock exchanges in developing regions where this is likely to result in a greater concentration of liquidity mitigating intended optimal redistribution of capital and resources
History
Publication status
- Published
File Version
- Accepted version
Journal
Research in International Business and FinanceISSN
0275-5319Publisher
ElsevierExternal DOI
Issue
1Volume
30Page range
91-110Department affiliated with
- Business and Management Publications
Research groups affiliated with
- Business and Finance Research Group Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2016-10-26First Open Access (FOA) Date
2016-10-26First Compliant Deposit (FCD) Date
2016-10-26Usage metrics
Categories
No categories selectedKeywords
Licence
Exports
RefWorks
BibTeX
Ref. manager
Endnote
DataCite
NLM
DC