Title: TURNOVER AND MARKET VALUE IN CAPITAL MARKETS IN THE EUROPEAN UNION
Abstract: This paper seeks to see if there is a relationship between market liquidity, proxied by turnover and size, measured by market capitalization and the number of listed companies for European Union countries. We employ a panel data structure with unobserved characteristics for each country modeled as fixed effects for all 27 European Union (EU) countries over the period 2001-2011. Our results prove that market capitalization, as a size variable is significant for capital market liquidity. As policy recommendation, we suggest for these countries to enhance their market capitalization in order to attain a greater liquidity.
Publication Year: 2013
Publication Date: 2013-01-01
Language: en
Type: article
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