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首页> 外文期刊>Global finance journal >Liquidity, ownership concentration, corporate governance, and firm value: Evidence from Thailand
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Liquidity, ownership concentration, corporate governance, and firm value: Evidence from Thailand

机译：流动性，所有权集中度，公司治理和公司价值：来自泰国的证据

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摘要

We examine the interactions among ownership structure, liquidity, and corporate governance in an important emerging market. The results suggest that firms with more concentrated ownership experience significantly lower stock liquidity. Large shareholders are assumed to possess private information, leading to information asymmetry and thus a higher adverse selection cost. As a result, higher ownership concentration is associated with less liquidity. Nevertheless, there is no evidence that corporate governance plays a significant role in the relationship between ownership and liquidity in Thailand.
机译：我们研究了重要新兴市场中所有权结构，流动性和公司治理之间的相互作用。结果表明，所有权更集中的公司的股票流动性大大降低。假定大股东拥有私人信息，从而导致信息不对称，从而导致较高的逆向选择成本。结果，较高的所有权集中度与较少的流动性相关。然而，没有证据表明公司治理在泰国所有权和流动性之间的关系中起着重要作用。

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