Adequate knowledge about the performance and efficiency of stock returns remains vital and essential information to investors. The ability to generate confidence among investors requires an understanding of the role liquidity plays in the growth of daily returns of the Nigerian Stock market. The...

We analyse the well-known TORQ dataset of trades on the NYSE over a 3-month period, breaking down transactions depending on whether the active or passive side was institutional or private. This allows us to compare the returns on the different trade categories. We find that, however we analyse...