COMPORTEMENT DE LA LIQUIDITE DES MARCHES BOURSIERS ETROITS : ETUDE STATISTIQUE GLOBALE DU CAS DE LA BOURSE DE CASABLANCA

Baali BOUBKER, Brahim ELMORCHID

Résumé


Liquidity defines the ability of a stock market to trade substantial volumes of assets quickly at low cost, and refers to a wide range of market dimensions, primarily size, time and cost. Previous research and studies have shown that liquidity is one of the most important characteristics of an effective and efficient stock market and that it affects a number of elements, particularly the cost of equity capital, returns and valuations, market stability and economic growth.

A precise definition and a unified measure of this notion of liquidity, however, remain ambiguous. This ambiguity arises from the evolving trend in the theoretical conceptualization of the general notion of liquidity and the possibility of confusing the notion of liquidity of a market with that of an asset.

This paper aims to recall, first, the main approaches to measuring stock market liquidity suggested by the economic and financial literature and second, to present a descriptive statistical analysis of the overall liquidity behavior of the Casablanca stock market for the period from January 4, 2010 to August 8, 2018.  


Mots-clés


‘Liquidity behavior’ ; ‘Liquidity measures’ ; ‘Casablanca Stock Exchange’ ; ‘Statistical analysis’; ‘ Stock market indexes’.

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DOI: https://doi.org/10.34874/IMIST.PRSM/ffi-v1i24.33385

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ISSN : 2489-1290

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