Tauseef, Sana; Dupuy, Philippe - In: Journal of economics, finance & administrative science 27 (2022) 54, pp. 344-363
are applied. The role of liquidity with five-factor model is analyzed using turnover rate and Amihud (2002) illiquidity … cost as liquidity measures. Findings - Pakistan's equity offers substantial diversification benefits if added to developed … can invest in high yielding stocks with low liquidity risk owing to positive connection between liquidity and returns …