Privatization and Market Liquidity in Croatia and Serbia
2012 (English)In: Proceedings of the 7th Annual South-East European Doctoral Student Conference / [ed] K. Bratanis, D. Dranidis, P. Koktsidis, L. Lazouras, E. Nikolaidou, 2012, 177-188 p.Conference paper, Presentation (Refereed)
In 2006 and 2007 Croatiahas privatized two of its largest companies by selling part of it to a largenumber of its citizens, while Serbia has in 2010 and 2011 distributed part of twoof its largest companies to its citizens. Listing of these companies onto thestock exchange should lead to increased diversification opportunities forinvestors, lowering of risk, and thus to the improvement of liquidity in thestock market. Our results show that this effect is largely missing. The spreadshave in certain cases narrowed following these privatizations, but have notaffected most of the stocks in our sample.
Place, publisher, year, edition, pages
2012. 177-188 p.
market liquidity, emerging stock market, mass privatization
Economics Business Administration
Research subject Business Administration
IdentifiersURN: urn:nbn:se:su:diva-81764ISBN: 978-960-9416-05-4OAI: oai:DiVA.org:su-81764DiVA: diva2:563799
South-East European Doctoral Student Conference, Thessaloniki, Greece, 2012