Author/Authors :
REİS, Şükriye Gül Gaziantep Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey , AYDIN, Nurhan Anadolu Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey
Title Of Article :
Causality Relationship Between Stock Liquidity and Financial Performance: An Example of Borsa İstanbul
Abstract :
The aim of this study is to present the relationship between financial performance and stock liquidity. The relationship has been examined for industry firms which operate in BIST 100 index for the period of 2005Q1-2012Q1. The stock liquidity proxies are Amihud illiquidity ratio and turnover ratio; financial performance proxy is Market Value/Book Value(MV/BV). Dumitrescu and Hurlin causality test is used for determining the relationship. Empirical results show that there is a two-way causality between financial performance and stock liquidity in Borsa Istanbul.
NaturalLanguageKeyword :
liquidity , performance , causality
JournalTitle :
Gaziantep University Journal Of Social Sciences
