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Trading Activity as a Liquidity Measure In Indonesia Stock Exchanges
2015
Proceedings of the International Conference on Economics and Banking 2015
unpublished
Preserved Fulltext
Trading activity that is indicated by the trading volume or the turnover is the measures of stock market liquidity. This paper presents a theoretical and empirical investigation of the relation between return and trading activity. As a consequence of clientele effect that relating the holding period and bid-ask spread, this paper shows that relation between return per unit price per unit time and trading activity, has a concave form similar as the relation between return per unit price per unit
doi:10.2991/iceb-15.2015.24
fatcat:sscv4dizybfsfozsegl7kcxyty