… Ownership structure plays a vital role in stock market liquidity. We analyze the impact of
ownership concentration, institutional ownership and earnings management on stock
market liquidity. We select 114 firms from manufacturing sector of Pakistan, India, Australia
and Singapore. We extract data from DataStream from 2010 to 2018 of selected countries. …
Further, in Model 3, we find institutional ownership has a significant positive impact on the
stock market liquidity that is in favor of signaling theory as institutional owners can monitor …