Les déterminants du manque de liquidité sur les marchés boursiers émergents :

une analyse comparative entre la Johannesburg Stock Exchange (JSE) et la Nigerian Stock Exchange (NSE)

  • Prince Dubois HIKOUATCHA KENFACK Université de Dschang
Mots-clés: déterminants, illiquidité, JSE, NSE, marché boursier émergent

Résumé

L’objectif de cet article est de faire une analyse comparative des déterminants de l’illiquidité, entre la JSE et la NSE, à partir de la méthode des Moindres Carrés Généralisés et la Méthode des Moments Généralisés, sur un panel d’actions. Les résultats montrent que le rendement du titre est le seul déterminant commun de l’illiquidité des places financières étudiées. Par ailleurs, la valeur de transaction sur la JSE et la capitalisation boursière sur la NSE, sont les déterminants spécifiques de l’illiquidité. Avec le marché global, le nombre de jours d’opérations et le nombre de transactions, sont les variables qui permettent de réduire le manque de liquidité. 

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Publiée
2018-12-31
Comment citer
HIKOUATCHA KENFACK, P. D. (2018). Les déterminants du manque de liquidité sur les marchés boursiers émergents :. Journal of Academic Finance, 9(2), 2-19. Consulté à l’adresse https://www.scientific-society.com/journal/index.php/AF/article/view/162
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