This paper investigates the relation between stock liquidity and firm performance. Liquidity plays an important role on performance of firms listed in Stock Exchange. When there is a good flow of trading stocks, people could expect more financing through absorbing investors on the market. This study examines the relationship between stock market liquidity and firm performance. The sample of the study was the continuously NSE listed top ten indices over the period [2005][2006][2007][2008][2009][2010][2011][2012][2013][2014]. To check the relationship between stock market liquidity and firm performance, the ordinary least sequence and general linear models were applied on Gretl and SPSS, respectively. The results of this study showed positive relationship between independent variables, return and age on dependent variable Tobin's Q. Further relationship between stock market liquidity and firm performance was also check and it was found that stock market liquidity was correlated with higher firm performance as measured by Tobin's Q.Growing Science Ltd. All rights reserved. 5

The increased global linkages give an investment opportunity to invest in equities across the global markets. This linkage can be the reason for the spillover of the volatility from one market to the other. This paper makes an attempt to understand the effect of global linkages on the volatility of the stock market. For the purpose of study, stock index data of selected developed and emerging markets were collected and tested to see if there is variation across time and if yes uniformity of variation was also tested. It was found from analysis that the variation across the countries was found to be uniform and most of the pairs of countries had a positive integration between them. It was found from examination that there is no significant difference in the extent volatility across the countries.