Ownership, corporate governance and liquidity in Caribbean firms

Jackson, Marcia Karen (2013) Ownership, corporate governance and liquidity in Caribbean firms. Masters by Research thesis, Queensland University of Technology.


This thesis provides the first evidence on how ownership structure and corporate governance relate to stock liquidity in the Caribbean. Based on panel data of 71 firms from three selected Caribbean markets − Barbados, Jamaica, and Trinidad & Tobago − results show that firms with concentrated ownership are associated with lower liquidity. The identity of the largest shareholder also matters: family firms and firms with foreign holding companies are more liquid than government firms. Although the second largest shareholding does not appear to matter to liquidity, there is some evidence showing that firms with foreign holding companies as the second largest shareholder are less liquid. Caribbean firms suffer from poor corporate governance but this study is unable to establish a significant relationship between corporate governance and liquidity.

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ID Code: 63853
Item Type: QUT Thesis (Masters by Research)
Supervisor: How, Janice & Verhoeven, Peter
Keywords: Ownership Structure, Corporate Governance, Liquidity, Board of Directors, Information Asymmetry
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Institution: Queensland University of Technology
Deposited On: 03 Nov 2013 23:58
Last Modified: 08 Sep 2015 23:25

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