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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Anastasiya Glinskaya
Unexpected Liquidity Behavior in Emerging Capital Markets
2018
The presence of alphabetism on developed financial markets has been shown in recent studies (Itzkowitz et al. (2016), Jacobs & Hillert (2016). The practice of information demonstration in the alphabetical order is widespread today, that is why it is assumed that the stocks located at the beginning of alphabetical ordered list will show greater turnover and liquidity. This hypothesis is tested on the financial markets of Brazil and India in current research. The results show that on Indian market the first 10% of stocks in alphabetically ordered list have higher liquidity. Similar effect was not obtained for Brazilian market. This result can be explained by the fact that the effect of alphabetism is difficult to be detected for a small number of trading companies.

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