OWNERSHIP STRUCTURE AND BID-ASK SPREAD: EVIDENCE FROM TUNISIAN COMPANIESDownload This Article
Nadia Belkhir Boujelbéne, Abdelfettah Bouri
The majority of previous studies are limited to study the aspects of the ownership structure within the framework of government of company without wondering about the incidence of this mechanism on the stock liquidity. The objective of this paper is to examine the relationship between ownership structure and market liquidity. From a sample of Tunisian firms listed in the period from 2001 to 2005. We showed that ownership concentration by blockholders is positively related to spread. A positive but generally insignificant relation is found between spreads and insider ownership. However, institutional ownership does not add any explicative power to the liquidity.
Keywords: Ownership Concentration, Insiders, Institutional, Stock Liquidity, Bid-ask Spread
How to cite this paper: Boujelbéne, N. B., Bouri, A. (2008). Ownership structure and bid-ask spread: evidence from Tunisian companies [Special issue]. Corporate Ownership & Control, 5(3-4), 445-451. http://dx.doi.org/10.22495/cocv5i3c4p4