Relationship between Ownership Concentration and Dispersion and Stock Liquidity of the Listed Companies in the Stock Exchange of Thailand
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Abstract
The purposes of this research were to examine the relationship between ownership concentration and stock liquidity as well as the relationship between ownership dispersion and stock liquidity. A sample used in the research was the listed companies in the stock exchange of Thailand in 2011 – 2015 in which 418 companies who have complete data were selected; as a result, there were 2,090 data in total. In analyzing the collected data there were two methods used: descriptive statistics and multiple regression analysis, hypothesis testing. The findings indicated that PROPCON owned the most data, but RESOURC owned the least data. Observing the relationship between independent variable and dependent variable, ownership concentration appeared to be negatively related to turnover and liquidity ratio and to be positively related to r-spread whereas ownership dispersion showed a positive relationship with liquidity ratio and a negative relationship with r-spread.
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