The bidirectional effects of stock market liquidity and the business cycle : an empirical study on the egyptian stock exchange
Joint Authors
al-Jayyar, Ahmad Hasan al-Sayyid
al-Jayyar, Ahmad Hasan al-Sayyid
Libdah, al-Sayyid Muhammad Ali
al-Jabali, Isam al-Din Muhammad Ali
Surur, Hibah Muhammad Muhammad
Source
Scientific Journal for Commerce and Finance
Issue
Vol. 41, Issue 3 (30 Sep. 2021), pp.50-113, 64 p.
Publisher
Tanta University Faculty of Commerce
Publication Date
2021-09-30
Country of Publication
Egypt
No. of Pages
64
Main Subjects
Topics
Abstract EN
Following the recent financial crisis there has been a huge increase in research on liquidity related topics both with respect to macro liquidity, funding liquidity, the liquidity of different asset classes and markets as well as the flow of funds between different assets and markets.
The main objective of this research is to examine the bidirectional effects of the Egyptian Stock Exchange liquidity, and the Egyptian business cycle.
This research depends upon the deductive approach which starts with generalities, after admitting its soundness, and ends up with particulars using the logical analysis to predict some findings of the hypotheses under study.
This approach attempts to use specific theories in the interpretation of phenomena discovered by the researcher, and that's by reviewing previous studies, formulating some testable hypotheses and then collecting data to test hypotheses using statistical methods.
The results of multiple regression and event study analyses shows that trading volume growth has a significant positive effect on real GDP growth.
Also, real GDP growth has a significant positive effect upon market capitalization growth and bid-ask spread growth.
This ensures that there are bidirectional effects between the Egyptian stock market liquidity and the Egyptian business cycle.
The main contributions of this study are twofold.
Firstly, the bidirectional effects of stock market liquidity and the business cycle is still puzzling, and not conclusive around the whole world.
Secondly, this is the first time, to the best of his knowledge, to conduct a research about these effects in Egypt; which has the biggest and oldest Stock Exchange in the Arabic area.
American Psychological Association (APA)
al-Jayyar, Ahmad Hasan al-Sayyid& al-Jayyar, Ahmad Hasan al-Sayyid& Libdah, al-Sayyid Muhammad Ali& al-Jabali, Isam al-Din Muhammad Ali& Surur, Hibah Muhammad Muhammad. 2021. The bidirectional effects of stock market liquidity and the business cycle : an empirical study on the egyptian stock exchange. Scientific Journal for Commerce and Finance،Vol. 41, no. 3, pp.50-113.
https://search.emarefa.net/detail/BIM-1304880
Modern Language Association (MLA)
al-Jayyar, Ahmad Hasan al-Sayyid…[et al.]. The bidirectional effects of stock market liquidity and the business cycle : an empirical study on the egyptian stock exchange. Scientific Journal for Commerce and Finance Vol. 41, no. 3 (2021), pp.50-113.
https://search.emarefa.net/detail/BIM-1304880
American Medical Association (AMA)
al-Jayyar, Ahmad Hasan al-Sayyid& al-Jayyar, Ahmad Hasan al-Sayyid& Libdah, al-Sayyid Muhammad Ali& al-Jabali, Isam al-Din Muhammad Ali& Surur, Hibah Muhammad Muhammad. The bidirectional effects of stock market liquidity and the business cycle : an empirical study on the egyptian stock exchange. Scientific Journal for Commerce and Finance. 2021. Vol. 41, no. 3, pp.50-113.
https://search.emarefa.net/detail/BIM-1304880
Data Type
Journal Articles
Language
English
Notes
-
Record ID
BIM-1304880