Purpose: This study analyzes the relationship between governance and stock liquidity. It uses different variables of corporate board characteristics and test three proxies of a bid-ask spread. It also provides comprehensive and robust evidence for the association between the corporate board and...

Recent theoretical researches in equity market consider that the enhanced liquidity is the principal motivation for stock splits and stock dividends, however, empirical studies find different results and even a decline in liquidity after the announcements or the effectives dates (ex dates) of...