Firm’s Information Environment and Stock Liquidity: Evidence from Tunisian Context

24 Pages Posted: 12 May 2011

See all articles by Nadia Loukil

Nadia Loukil

University of Tunis - Institut Supérieur de Gestion (ISG), Tunis

Ouidad Yousfi

Université de Montpellier

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Date Written: May 1, 2011

Abstract

This paper analyzes the relationship between public disclosure, private information and stock liquidity in Tunisian context using a sample of 41 listed firms in the Tunis Stock Exchange in 2007. First, we find no evidence that there is a relation between public and private information. Second, Tunisian investors do not trust the information disclosed in both annual reports and web sites, consequently it has no effects on stock liquidity, in contrast with private information.

Suggested Citation

Loukil, Nadia and Yousfi, Ouidad, Firm’s Information Environment and Stock Liquidity: Evidence from Tunisian Context (May 1, 2011). International Conference of the French Finance Association (AFFI), May 11-13, 2011. Available at SSRN: https://ssrn.com/abstract=1836828 or http://dx.doi.org/10.2139/ssrn.1836828

Nadia Loukil (Contact Author)

University of Tunis - Institut Supérieur de Gestion (ISG), Tunis ( email )

45 Rue de la Liberte, Cite Bouchoucha
Bardo, Tunis 2000
Tunisia

Ouidad Yousfi

Université de Montpellier ( email )

Place Eugène Bataillon
Montpellier, 34095
France

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