Economics, Econometrics and Finance
4 years ago

Tunisian Stock Market Automation Boosts Liquidity, But Hits Stock Returns

RePEc: Research Papers in Economics
The Impact of Automation on Liquidity, Volatility, Stock Returns and Efficiency: Evidence from the Tunisian Stock Market
Olfa Benouda Sioud, Dorra Mezzez Hmaied

Paper Summary

Related papers

Business, Management and Accounting
4 years ago

Liquidity boosts stock returns in Vietnam during financial crisis, defying expectations.

Corporate Governance
1 view
Economics, Econometrics and Finance
4 years ago

Stock market volatility hinders corporate investment, impacting future income growth.

Oil Price Shocks
Macroeconomic Analysis
Asset Pricing
2 views
Economics, Econometrics and Finance
4 years ago

Higher market liquidity in Nigerian Stock Exchange boosts firm performance.

Asset Pricing
Corporate Governance
Value-based Management
1 view

The article looks at how automating the Tunis stock exchange affected liquidity, volatility, and stock prices. They switched from manual to automated trading for some stocks in 1996. The study of 20 securities found that liquidity improved after the switch. However, there were negative abnormal returns, but no clear impact on volatility or pricing errors.