In this research, We investigated the relationship between corporate governance mechanisms and stock liquidity in Tehran Stock Exchange. The samples of this research consisted of 72 firms during 1383-1387 (2004-2008). We used Amihud model as proxy stock liquidity and among various features, four features including institutional ownership, concentration ownership, independent directors and the existence of dominant personalities (CEO/Chairman duality), as proxy corporate governance mechanisms, selected and examined their relationship with stock liquidity. The multivariate pooled regression model is used to examine the hypotheses. The results indicate that there is significant positive relationship between institutional ownership and independent directors and stock liquidity in Tehran Stock Exchange. So, there is significant negative relationship between concentration ownership and dominant personalities (CEO/Chairman duality) and stock liquidity.
Yaghoobnezhad,A , Rahnamaie Roodposhti,F and Zabihi,A . (2011). The Effect of Corporate Governance Mechanisms on Stock Liquidity in Tehran Stock Exchange. Quarterly Journal of Securities Exchange, 4(13), 157-173.
MLA
Yaghoobnezhad,A , , Rahnamaie Roodposhti,F , and Zabihi,A . "The Effect of Corporate Governance Mechanisms on Stock Liquidity in Tehran Stock Exchange", Quarterly Journal of Securities Exchange, 4, 13, 2011, 157-173.
HARVARD
Yaghoobnezhad A, Rahnamaie Roodposhti F, Zabihi A. (2011). 'The Effect of Corporate Governance Mechanisms on Stock Liquidity in Tehran Stock Exchange', Quarterly Journal of Securities Exchange, 4(13), pp. 157-173.
CHICAGO
A Yaghoobnezhad, F Rahnamaie Roodposhti and A Zabihi, "The Effect of Corporate Governance Mechanisms on Stock Liquidity in Tehran Stock Exchange," Quarterly Journal of Securities Exchange, 4 13 (2011): 157-173,
VANCOUVER
Yaghoobnezhad A, Rahnamaie Roodposhti F, Zabihi A. The Effect of Corporate Governance Mechanisms on Stock Liquidity in Tehran Stock Exchange. Quarterly Journal of Securities Exchange. 2011;4(13):157-173 (In Persian).
