University of Hawaii - Shidler College of Business; University of Hawaii - Department of Financial Economics and Institutions. There are 2 versions of this paper. Over the same period, liquidity on the Jakarta Stock Exchange improved substantially with spread more than halved and depth more than doubled.

Was the high foreign institutional ownership a major contributing factor to the improvement? In this study we examine the Granger causality between foreign institutional ownership and liquidity. The direct and indirect effects of foreign institutions on liquidity measures are estimated using monthly Fama-McBeth regressions. We find that foreign preference for liquidity, though statistically significant, is economically small.

However, their holdings have a negative impact on future liquidity: The liquidity effects of domestic institutions are mixed but more positive. The findings are consistent with the negative liquidity impact of institutional investors in developed markets, and challenge the view that foreign institutions enhance the liquidity in small emerging markets.

SEM at a glance - Stock Exchange of Mauritius

Ghon and Wang, Jian-Xin, Foreign Institutional Ownership and Stock Market Liquidity: Evidence from Indonesia January 1, Subscribe to this fee journal for more curated articles on this topic. Macroeconomic Issues in Developing Economies eJournal. Foreign Institutional Ownership and Stock Market Liquidity: Ghon Rhee and Jian-xin Wang.

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Foreign Institutional Ownership and Stock Market Liquidity: Evidence from Indonesia by S. Ghon Rhee, Jian-Xin Wang :: SSRN

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Ghon Rhee University of Hawaii - Shidler College of Business; University of Hawaii - Department of Financial Economics and Institutions Jian-Xin Wang University of Technology Sydney; Financial Research Network FIRN. Evidence from Indonesia Journal of Banking and Finance, Vol.

Evidence from Indonesia 21st Australasian Finance and Banking Conference Paper. You are currently viewing this paper. University of Hawaii - Department of Financial Economics and Institutions email United States. Jian-Xin Wang Contact Author University of Technology Sydney email UTS Business School Finance Decipline Sydney, NSW Australia. Download this Paper Open PDF in Browser. Related eJournals Capital Markets: Market Microstructure eJournal Follow. Market Microstructure eJournal Subscribe to this fee journal for more curated articles on this topic FOLLOWERS.

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Ghon Rhee and Jian-xin Wang Do Foreign Institutions Improve Stock Liquidity?

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