Working Paper 2015-01

The corporate ownership dataset that my team purchased permits us to conduct an in-depth firm-level analysis on corporate finance issues related to the Malaysian stock market. The first paper, completed at the end of December 2013, explores the effects of foreign ownership on the price efficiency of Malaysian stocks (click here for details). We then venture into the area of liquidity, addressing the relationship between corporate shareholdings and the liquidity of Malaysian stocks. To our surprise, the extensive literature search does not find many published studies on the Malaysian stock market. Hence, little is known about the level of liquidity for Malaysian stocks, not to mention the determinants and effects of stock liquidity. The first version of this liquidity paper has just been completed, providing new insights on investor heterogeneity, trading account types and the underlying liquidity channels.

The full paper can be downloaded from my own repository (click here).