Abstract

GARCIA-MARTINEZ, Erdwin Fernando. Ownership concentration and its effect on the liquidity of shares in the Colombian stock market, period 2010-2016. Finanz. polit. econ. [online]. 2018, vol.10, n.2, pp.327-348. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.2018.10.2.5.

This paper analyzes the effect of the concentration of stock ownership (mixed or private) on the liquidity of shares in the Colombian stock market, for a representative sample of 15 companies listed on that market during the period between 2010 and 2016. The results show an inverse relationship between these variables; that is, while ownership concentration increases, liquidity decreases. However, the model has a low significance level, thus, it may be linked to other aspects that are associated with the use of information regarding the issuance and placement of shares by companies.

Keywords : Ownership concentration; liquidity; stocks; stock market.

        · abstract in Spanish | Portuguese     · text in Spanish     · Spanish ( pdf )