Reference : L'impact de la divulgation d'informations sur la liquidité du marché français

	Document type :	Parts of books : Contribution to collective works
	Discipline(s) :	Business & economic sciences : Finance
	To cite this reference:	http://hdl.handle.net/2268/133809

Title :	L'impact de la divulgation d'informations sur la liquidité du marché français
Language :	French
Alternative title :	[en] The effects of corporate disclosures on the French-market liquidity
Author, co-author :	Ajina, Aymen [Université de Liège - ULg > > > Doct. sc. écon. & gest. (sc. gestion - Bologne)]
	Sougné, Danielle [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Gestion financière et consolidation >]
	Lakhal, Faten []
Publication date :	Apr-2012
Main document title :	Finance et Stratégies de Développement
Publisher :	Editions PUBLISUD
Pages :	25-38
City :	Paris
Country :	France
Keywords :	[fr] Liquidité du marché ; asymétrie d’informations ; communication financière
Abstract :	[en] This paper examines the relationship between the quality of financial disclosure and the French stock-market liquidity. Based on a sample of 196 firms over a period from 2004 to 2007, we find that there is a positive and statistically significant relationship between the quality of Annual Reports and market liquidity. This result should encourage French authorities to develop the informational environment as an indispensable means to prevent the risk of illiquidity.
Permalink :	http://hdl.handle.net/2268/133809
Other URL :	http://editionspublisud.hautetfort.com/archive/2012/04/04/finance-et-strategies-de-developpement-sous-la-direction-de.html

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