Stock Market Liquidity in Chile

Author: Brandao-Marques Luis and Marques Luis Brandao

Volume/Issue: Volume 2016 Issue 223

Publication date: November 2016

ISBN: 9781475554656

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Corporate Governance , WP , market liquidity , liquidity regime , investor protection , corporate governance , liquidity premium , liquidity service , liquidity cost , aggregate liquidity , Liquidity , Stock markets , Stocks , Liquidity management , Global

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Summary

Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority shareholders can help improve stock market liquitidity. Currently, illiquid in Chilean may have to pay 3½ percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code.