Leila Lotfi - PhD student, Department of Accounting, Zanjan Branch, Islamic Azad University, Zanjan, Iran
Mehdi Mohammadi - Assistant professor, Department of Accounting, Zanjan Branch, Islamic Azad University, Zanjan, Iran

The speed and capability of liquidity of assets are important factors in investment decisions in the capital market.Investors in their choice of investment choices, in addition to their risk and returns, pay particular attention to theirliquidity. The effect of this feature on securities market variables is the subject of many financial investigations. Giventhe role of liquidity in discovering asset prices, distributing financial risk, and reducing transaction costs, it is importantto recognize the factors that affect it. The purpose of this study was to investigate the effects of ownershipconcentration, earning management on stock market liquidity. This study has been carried out on 141 companies duringthe period 2001-2006. Research findings suggest that the ownership concentration and earning management has anegative impact on stock market liquidation.

Stock Market Liquidity, Ownership Concentration, Earning Management