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3. (a) Discuss the secondary market role of a stock exchange and its importance to the corporation. Illustrate your answer by using examples. (b) What

3. (a) Discuss the secondary market role of a stock exchange and its importance to the corporation. Illustrate your answer by using examples. (b) What is meant by the liquidity of the share market? Explain why liquidity in the secondary market is important both to shareholders and to the corporation.

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