Return and Liquidity Relationships on Market and Accounting Levels in Brazil

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Fernanda Finotti Cordeiro Perobelli; Rubens Famá; Luiz Claudio Sacramento;
  • Publisher: Universidade de São Paulo, Faculdade de Economia, Administração e Contabilidade, Departamento de Contabilidade e Atuária
  • Journal: issn: 1808-057X
  • Publisher copyright policies & self-archiving
  • Related identifiers: doi: 10.1590/1808-057x201601530
  • Subject: liquidez contábil | restrição financeira | HF5001-6182 | accounting return | Business | risco/retorno esperado de mercado | liquidez de mercado | financial constraints | market liquidity | accounting liquidity | retorno contábil | HG1-9999 | market risk/expected return | Finance

ABSTRACT This article discusses profitability-liquidity relationships on accounting and market levels for 872 shares of publicly-traded Brazilian companies, observed between 1994 and 2013. On the market level, the assumption is that share liquidity is able to reduce som... View more