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Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach

Link to publisher's homepage at http://ijbt.unimap.edu.my

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Main Authors: Sina, Sheykhbaglou, Mehdi, Heydari, Farzad, Ghayour
Other Authors: m.heydari@urmia.ac.ir
Format: Article
Language:English
Published: School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis (UniMAP) 2019
Subjects:
Stock returns
Stock liquidity
Financial constraints
Structural equations
Online Access:http://dspace.unimap.edu.my:80/xmlui/handle/123456789/62404
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spelling my.unimap-624042019-10-11T09:05:47Z Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach Sina, Sheykhbaglou Mehdi, Heydari Farzad, Ghayour m.heydari@urmia.ac.ir Stock returns Stock liquidity Financial constraints Structural equations Link to publisher's homepage at http://ijbt.unimap.edu.my The purpose of this study was to investigate the relationship between stock liquidity and stock returns with a focus on the moderating role of financial constraints. Methodology/Technique – A structural equation modeling approach is applied in this research. The sample of this study consists of companies that were consistently listed on the Tehran Stock Exchange from 2009 to 2017. Findings – The results indicated that the financial constraints associated with stock liquidity and stock returns play a moderating role, and in particular, the relationship of these variables in firms with no financial constraints is much stronger than those with limited constraints. The results indicate that the effect of stock liquidity on stock returns in companies with financial constraints is different from that of the companies without financial constraints in a way that the effect of stock liquidity on stock return in health companies is stronger than that of the companies with financial constraint. Novelty - it is suggested that capital market activists, financial analysts and potential and actual investors of stock exchanges, take into consideration the conditions and financial constraints of the companies. 2019-10-11T09:05:47Z 2019-10-11T09:05:47Z 2019-10 Article International Journal of Business and Technopreneurship, vol.9(3), 2019, pages 309-320 2231-7090 2232-1543 (online) http://dspace.unimap.edu.my:80/xmlui/handle/123456789/62404 en School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis (UniMAP)
institution Universiti Malaysia Perlis
building UniMAP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Perlis
content_source UniMAP Library Digital Repository
url_provider http://dspace.unimap.edu.my/
language English
topic Stock returns
Stock liquidity
Financial constraints
Structural equations
spellingShingle Stock returns
Stock liquidity
Financial constraints
Structural equations
Sina, Sheykhbaglou
Mehdi, Heydari
Farzad, Ghayour
Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
description Link to publisher's homepage at http://ijbt.unimap.edu.my
author2 m.heydari@urmia.ac.ir
author_facet m.heydari@urmia.ac.ir
Sina, Sheykhbaglou
Mehdi, Heydari
Farzad, Ghayour
format Article
author Sina, Sheykhbaglou
Mehdi, Heydari
Farzad, Ghayour
author_sort Sina, Sheykhbaglou
title Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
title_short Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
title_full Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
title_fullStr Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
title_full_unstemmed Stock liquidity and stock return: The moderating role of financial constraint using structural equation modeling approach
title_sort stock liquidity and stock return: the moderating role of financial constraint using structural equation modeling approach
publisher School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis (UniMAP)
publishDate 2019
url http://dspace.unimap.edu.my:80/xmlui/handle/123456789/62404
_version_ 1651868690279301120
score 13.222552

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