Stock market efficiency and liquidity: The Indonesia Stock Exchange merger

@inproceedings{Yang2016StockME,
  title={Stock market efficiency and liquidity: The Indonesia Stock Exchange merger},
  author={A. S. Yang and Airin Pangastuti},
  year={2016}
}
This study investigates the market liquidity and efficiency of the merger between the Surabaya Stock Exchange and the Jakarta Stock Exchange into the Indonesia Stock Exchange (IDX). Efficiency theory and scale economies are applied to identify the liquidity and efficiency levels of firms. Results indicate that large market capitalization companies and the non-financial sector achieved greater market efficiency than their counterparts. Despite foreign ownership reduces market efficiency for… CONTINUE READING

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