{"id":"https://openalex.org/W2919076002","doi":"https://doi.org/10.1080/23322039.2019.1586297","title":"Stock market and its liquidity: Evidence from ARDL bound testing approach in the Indian context","display_name":"Stock market and its liquidity: Evidence from ARDL bound testing approach in the Indian context","publication_year":2019,"publication_date":"2019-01-01","ids":{"openalex":"https://openalex.org/W2919076002","doi":"https://doi.org/10.1080/23322039.2019.1586297","mag":"2919076002"},"language":"en","primary_location":{"id":"doi:10.1080/23322039.2019.1586297","doi":"https://doi.org/10.1080/23322039.2019.1586297","is_oa":true,"landing_page_url":"https://doi.org/10.1080/23322039.2019.1586297","pdf_url":"https://www.tandfonline.com/doi/epdf/10.1080/23322039.2019.1586297?needAccess=true&role=button","source":{"id":"https://openalex.org/S2765075218","display_name":"Cogent Economics & Finance","issn_l":"2332-2039","issn":["2332-2039"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311767","host_organization_name":"Cogent OA","host_organization_lineage":["https://openalex.org/P4310311767"],"host_organization_lineage_names":["Cogent OA"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Cogent Economics & Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.tandfonline.com/doi/epdf/10.1080/23322039.2019.1586297?needAccess=true&role=button","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5010638661","display_name":"Sharad Nath Bhattacharya","orcid":"https://orcid.org/0000-0002-5568-234X","observed_orcids":["https://orcid.org/0000-0002-5568-234X"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Sharad Nath Bhattacharya","raw_affiliation_strings":["Finance and Accounting Area, Indian Institute of Mangement Shillong, Shillong, India"],"raw_orcid":"https://orcid.org/0000-0002-5568-234X","affiliations":[{"raw_affiliation_string":"Finance and Accounting Area, Indian Institute of Mangement Shillong, Shillong, India","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5024074738","display_name":"Mousumi Bhattacharya","orcid":"https://orcid.org/0000-0002-6506-6524","observed_orcids":["https://orcid.org/0000-0002-6506-6524"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Mousumi Bhattacharya","raw_affiliation_strings":["Finance and Accounting Area, Indian Institute of Mangement Shillong, Shillong, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Finance and Accounting Area, Indian Institute of Mangement Shillong, Shillong, India","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5026293234","display_name":"Sankarshan Basu","orcid":"https://orcid.org/0000-0001-6849-7306","observed_orcids":["https://orcid.org/0000-0001-6849-7306"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Sankarshan Basu","raw_affiliation_strings":["Finance and Accounting Area, Indian Institute of Mangement Bangalore, Bangalore, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Finance and Accounting Area, Indian Institute of Mangement Bangalore, Bangalore, India","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5010638661"],"corresponding_institution_ids":[],"apc_list":{"value":950,"currency":"GBP","value_usd":1165},"apc_paid":{"value":950,"currency":"GBP","value_usd":1165},"fwci":4.6642,"has_fulltext":true,"cited_by_count":40,"citation_normalized_percentile":{"value":0.94596785,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":"7","issue":"1","first_page":"1586297","last_page":"1586297"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9926999807357788,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9926999807357788,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.002400000113993883,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.00139999995008111,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/stock-liquidity","display_name":"stock liquidity","score":0.9760000109672546},{"id":"https://openalex.org/keywords/market-depth","display_name":"market depth","score":0.6010000109672546},{"id":"https://openalex.org/keywords/market-breadth","display_name":"market breadth","score":0.9010000228881836},{"id":"https://openalex.org/keywords/bid-ask-spread","display_name":"bid-ask spread","score":0.8619999885559082},{"id":"https://openalex.org/keywords/trading-volume","display_name":"trading volume","score":0.6439999938011169},{"id":"https://openalex.org/keywords/turnover-rate","display_name":"turnover rate","score":0.925000011920929},{"id":"https://openalex.org/keywords/stock-market-indices","display_name":"stock market indices","score":0.6660000085830688},{"id":"https://openalex.org/keywords/long-run-relationship","display_name":"long-run relationship","score":0.6850000023841858},{"id":"https://openalex.org/keywords/indian-stock-market","display_name":"Indian stock market","score":0.7820000052452087}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.8304181098937988},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.6684088706970215},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5711264610290527},{"id":"https://openalex.org/C199226685","wikidata":"https://www.wikidata.org/wiki/Q1800351","display_name":"Inventory turnover","level":3,"score":0.5432679653167725},{"id":"https://openalex.org/C18991353","wikidata":"https://www.wikidata.org/wiki/Q1137319","display_name":"Market maker","level":4,"score":0.4909866154193878},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.464528888463974},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4508377015590668},{"id":"https://openalex.org/C204208750","wikidata":"https://www.wikidata.org/wiki/Q1519415","display_name":"Short run","level":2,"score":0.42164531350135803},{"id":"https://openalex.org/C159009313","wikidata":"https://www.wikidata.org/wiki/Q5283159","display_name":"Distributed lag","level":2,"score":0.41713863611221313},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.38566023111343384},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.2428051233291626},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.2268630564212799},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.12752440571784973},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1080/23322039.2019.1586297","doi":"https://doi.org/10.1080/23322039.2019.1586297","is_oa":true,"landing_page_url":"https://doi.org/10.1080/23322039.2019.1586297","pdf_url":"https://www.tandfonline.com/doi/epdf/10.1080/23322039.2019.1586297?needAccess=true&role=button","source":{"id":"https://openalex.org/S2765075218","display_name":"Cogent Economics & Finance","issn_l":"2332-2039","issn":["2332-2039"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311767","host_organization_name":"Cogent OA","host_organization_lineage":["https://openalex.org/P4310311767"],"host_organization_lineage_names":["Cogent OA"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Cogent Economics & Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:oaefxx:v:7:y:2019:i:1:p:1586297","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/23322039.2019.1586297","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:bd4e609d9bd9473cbe396c1702c7a2e7","doi":null,"is_oa":false,"landing_page_url":"https://doaj.org/article/bd4e609d9bd9473cbe396c1702c7a2e7","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Cogent Economics & Finance, Vol 7, Iss 1 (2019)","raw_type":"article"},{"id":"pmh:oai:econstor.eu:10419/245207","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10419/245207","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:article"}],"best_oa_location":{"id":"doi:10.1080/23322039.2019.1586297","doi":"https://doi.org/10.1080/23322039.2019.1586297","is_oa":true,"landing_page_url":"https://doi.org/10.1080/23322039.2019.1586297","pdf_url":"https://www.tandfonline.com/doi/epdf/10.1080/23322039.2019.1586297?needAccess=true&role=button","source":{"id":"https://openalex.org/S2765075218","display_name":"Cogent Economics & Finance","issn_l":"2332-2039","issn":["2332-2039"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311767","host_organization_name":"Cogent OA","host_organization_lineage":["https://openalex.org/P4310311767"],"host_organization_lineage_names":["Cogent OA"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Cogent Economics & Finance","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2919076002.pdf","grobid_xml":"https://content.openalex.org/works/W2919076002.grobid-xml"},"referenced_works_count":47,"referenced_works":["https://openalex.org/W80413610","https://openalex.org/W1495953336","https://openalex.org/W1522012530","https://openalex.org/W1560849420","https://openalex.org/W1800062410","https://openalex.org/W1966910378","https://openalex.org/W1971273486","https://openalex.org/W1975200057","https://openalex.org/W1976592774","https://openalex.org/W1980257095","https://openalex.org/W2005093576","https://openalex.org/W2022001764","https://openalex.org/W2027874509","https://openalex.org/W2039682891","https://openalex.org/W2046519558","https://openalex.org/W2047485150","https://openalex.org/W2054404217","https://openalex.org/W2059286270","https://openalex.org/W2062411050","https://openalex.org/W2093260403","https://openalex.org/W2099650079","https://openalex.org/W2107459714","https://openalex.org/W2108994216","https://openalex.org/W2129525919","https://openalex.org/W2137582495","https://openalex.org/W2137807883","https://openalex.org/W2157201362","https://openalex.org/W2172160388","https://openalex.org/W2246119242","https://openalex.org/W2564725700","https://openalex.org/W2571264352","https://openalex.org/W2592933366","https://openalex.org/W2891790148","https://openalex.org/W2955080903","https://openalex.org/W3021190191","https://openalex.org/W3121238223","https://openalex.org/W3121295248","https://openalex.org/W3121401171","https://openalex.org/W3121427646","https://openalex.org/W3121453935","https://openalex.org/W3121673272","https://openalex.org/W3122015128","https://openalex.org/W3123899576","https://openalex.org/W3123979702","https://openalex.org/W3125429182","https://openalex.org/W4248735792","https://openalex.org/W4256464252"],"related_works":["https://openalex.org/W3083624457","https://openalex.org/W2592933366","https://openalex.org/W4411714219","https://openalex.org/W3204594884","https://openalex.org/W2021274885","https://openalex.org/W1608683737","https://openalex.org/W3216314157","https://openalex.org/W4378627660","https://openalex.org/W1570429273","https://openalex.org/W4318038593"],"abstract_inverted_index":{"This":[0],"paper":[1],"attempts":[2],"to":[3],"capture":[4],"the":[5,47,60,80,86,94,98,108,112,122,131,154],"relationship":[6],"between":[7],"stock":[8,61,77,95,113],"market":[9,33,52,62,73,78,96,114,132,158],"movements":[10],"and":[11,29,59,72,130],"its":[12],"endogenous":[13],"liquidity":[14,34,37,44,91],"measures":[15,38,45,92],"using":[16,35],"Autoregressive":[17],"Distributed-lag":[18],"(ARDL)":[19],"Bounds":[20],"Testing":[21],"Approach.":[22],"We":[23,103],"consider":[24],"depth,":[25],"breadth,":[26],"tightness,":[27],"immediacy":[28],"resiliency":[30],"dimensions":[31],"of":[32,49,88,107,157],"suitable":[36],"(proxies).":[39],"Findings":[40],"suggest":[41],"that":[42,105,144],"multidimensional":[43],"like":[46],"volume":[48],"trade,":[50],"spread,":[51],"efficiency":[53,74],"coefficient,":[54],"turnover":[55,109],"rate,":[56],"trading":[57,70],"probability,":[58],"index":[63],"are":[64,126],"in":[65,85,97,117,121],"a":[66],"long-term":[67,155],"relationship.":[68],"While":[69],"activity":[71],"coefficient":[75],"affect":[76,93],"positively,":[79],"negative":[81,116],"impact":[82,106],"is":[83,115],"seen":[84],"case":[87],"spread.":[89],"The":[90,124,141],"short":[99],"run":[100],"as":[101,134],"well.":[102],"find":[104],"rate":[110],"on":[111],"short-run":[118],"but":[119],"positive":[120],"long-run.":[123],"findings":[125],"important":[127,152],"for":[128],"investors":[129],"participants":[133],"well":[135],"who":[136],"pursue":[137],"loss":[138],"minimization":[139],"strategies.":[140],"results":[142],"indicate":[143],"short-term":[145],"policy":[146],"interventions":[147],"need":[148],"not":[149],"get":[150],"more":[151],"than":[153],"objectives":[156],"reforms.":[159]},"counts_by_year":[{"year":2026,"cited_by_count":7},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":9},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":2}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2019-03-11T00:00:00"}