Abstract
The endeavor of the empirical study is analyzing institutional investors (Ins.Invs)
with respect to market liquidity (ML) and information asymmetry (Inf.Asym) in
Pakistan stock exchange (PSX).A significant sample period of ten years was taken
for fuel and energy, textile, food, and cement sectors by applying panel data
econometric techniques to identify the relationship of Ins.Invs on ML and
Inf.Asym. The secondary data of the variables have gathered from annual reports
of the firms, published reports of the State Bank of Pakistan (SBP) and the official
website of PSX. Using fixed effect model (FEM) based on Hausman test the study
concluded that the Ins.Invs. positively and significantly affect the ML and
Inf.Asym and declared that the investors are heterogeneous (both active and
passive).
Muhammad Arif, Himayatullah Khan, Khurshed Iqbal. (2018) An Analysis of Institutional Investors, Information Asymmetry, and Stock Market Liquidity: Empirical Evidence from Pakistan Stock Exchange (A Sector Wise analysis in Pakistan Stock Exchange), The Journal of Humanities & Social Sciences, Volume-26, Issue-2.
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