Privatisation and liquidity in frontier markets
(English)Manuscript (preprint) (Other academic)
Two frontier markets in recent years privatised and listed several of their largest companies. Despite the attention that these listings obtained, and the expectation of their effect on the market, they were unsuccessful in systematically improving liquidity of the market in Croatia and Serbia. Sporadic effects on liquidity (both liquidity improving and liquidity deteriorating) have been found, depending on the liquidity measure employed and the empiric method used, but there has been no systematic effect of these several new listings on the liquidity of already listed stocks.
privatisation, frontier stock market, liquidity
IdentifiersURN: urn:nbn:se:su:diva-109169OAI: oai:DiVA.org:su-109169DiVA: diva2:763336