Journal of Commerce and Accounting Research

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Stock Liquidity and Board Compensation: the Case of Tehran Stock Exchange


Affiliations
1 Department of Accounting, Islamic Azad University, West Azarbyjan Science and Research Branch., Iran, Islamic Republic of
2 Islamic Azad University, West Azarbyjan Science and Research Branch., Iran, Islamic Republic of
3 Islamic Azad University, Broujerd Branch., Iran, Islamic Republic of
     

   Subscribe/Renew Journal


This study investigates the relationship between stock liquidity and board compensation listed in Tehran Stock Exchange (TSE) during the period between 2004 and 2010. The population of study includes 74 firms and fourteen hypotheses are developed for purpose of study. The results show that there is a positive relationship between trading days, trading quantity, trading volume, trading value, percentage of floating stock, turnover ratio, stock flow ratio, liquidity ratio, stock market depth, absolute bid-ask spread and board compensation and there is a negative relationship between waiting period, illiquidity ratio, relative bid-ask spread and board compensation spread. Moreover, there is no relationship between floating stock flow and board compensation.

Keywords

Liquidity, Board Compensation, Tehran Stock Exchange
Subscription Login to verify subscription
User
Notifications
Font Size



  • Stock Liquidity and Board Compensation: the Case of Tehran Stock Exchange

Abstract Views: 405  |  PDF Views: 0

Authors

Saeid Jabbarzadeh Kangarlouei
Department of Accounting, Islamic Azad University, West Azarbyjan Science and Research Branch., Iran, Islamic Republic of
Morteza Motavassel
Islamic Azad University, West Azarbyjan Science and Research Branch., Iran, Islamic Republic of
Majid Babakhani
Islamic Azad University, Broujerd Branch., Iran, Islamic Republic of

Abstract


This study investigates the relationship between stock liquidity and board compensation listed in Tehran Stock Exchange (TSE) during the period between 2004 and 2010. The population of study includes 74 firms and fourteen hypotheses are developed for purpose of study. The results show that there is a positive relationship between trading days, trading quantity, trading volume, trading value, percentage of floating stock, turnover ratio, stock flow ratio, liquidity ratio, stock market depth, absolute bid-ask spread and board compensation and there is a negative relationship between waiting period, illiquidity ratio, relative bid-ask spread and board compensation spread. Moreover, there is no relationship between floating stock flow and board compensation.

Keywords


Liquidity, Board Compensation, Tehran Stock Exchange

References