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

Nadia Loukil (1) , Ouidad Yousfi (2)

1 Fiesta ISG de Tunis
2 MRM - Montpellier Research in Management

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.

Mots clés: corporate information disclosure; private information; stock liquidity; emergent market.; emergent market

Domaines: Finance [q-fin.GN]

Nadia Loukil, Ouidad Yousfi. Firm's Information Environment and Stock Liquidity : Evidence from Tunisian Context,. Journal of Accounting in Emerging Economies,, 2011, 2 (1), pp.30. ⟨10.1108/20421161211196111⟩. ⟨hal-00813921⟩