The Liquidity of Indian Firms: Empirical Evidence of 2154 Firms

• 발행기관: 한국유통과학회
• 저자명: Eissa A. AL-HOMAIDI Mosab I. TABASH Waleed M. AL-AHDAL Najib H. S. FARHAN Samar H. KHAN 5
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.1, 19~27쪽, 전체 9쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.01.30

영문 초록

This paper aims to empirically study the determinants of liquidity of Indian listed firms. To account for profit persistence, we apply a (pooled, fixed and random) effect models to a panel of Indian listed firms that covers the time period from 2010 to 2016. This study consists of 2154 firms operating in Indian market. Liquidity (LQD) of Indian firms is measured by liquid assets to total assets, whereas bank size, capital adequacy, profitability, leverage, and firm age are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors considered. The findings reveal that leverage, return on assets, and firm age are the essential internal determinants that impact the liquidity of Indian listed firms. Furthermore, among the internal determinants, the results indicate that firm size, leverage ratio, return on assets ratio, and firm age are found to have a significant positive association with firms’ LQD, except leverage ratio and firm age has a negative relationship with firms’ LQD. From this result, this article has provides helpful ideas and empirical evidence on the inner and external determinants of the companies mentioned in India is very useful to bankers, analysts, regulators, investors and other stakeholders.

목차

1. Introduction

2. Literature Review

3. Research Methodology

4. Hypotheses

5. Empirical Results

6. Conclusion and Implications

Conflict of Interest

References

키워드

Firms Liquidity Internal and Externaㅣ Determinants Panel Data Fixed and Random Effect India