Prior research on firm performance at aggregate level may not be applicable for the firms classified on group affiliation and listing. This is because there is substantial difference in the structure of these firms belonging to each category. We examine the difference in the structure of the...

A stock's liquidity and its variability over time are of major concern for all the stakeholders of capital markets. Literature shows that market participants prefer liquid stocks and a stock's exposure to liquidity commonality is inversely proportional to market returns. Although the burgeoning...