Add to ORKGStock splits are a common capital structure alteration which ought to have no effect on firm value in perfect capital markets. Empirical studies find that stock prices increase upon announcement of stock splits. The two traditional explanations for the rise in prices are information signaling on the part of managers and improved liquidity for shares that trade at lower prices. We investigate these explanations by studying splits of American Deposit Receipt (ADR) securities which are not associated with splits in the home country stock. We argue that these splits are likely to be motivated by the desire for liquidity improvements only. The results indicate that ADR prices rise by a statistically significant 1 to 2 percent at the announcement...
One explanation offered for stock splits is that the split signals positive information by reducing ...
We observe significant post-split excess returns of 7.93 percent in the first year and 12.15 percent...
Stock splits are known to have a negative effect on market quality—while stock prices adjust consist...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many...
The prior literature finds that stock splits worsen liquidity, as measured by percent effective spre...
In the stock market there occur some events that contradict the efficient market hypothesis therefor...
In the stock market there occur some events that contradict the efficient market hypothesis therefor...
This study examines whether liquidity improves following REIT stock splits. We find that REIT liquid...
One explanation offered for stock splits is that the split signals positive information by reducing ...
This paper examines the aggregate determinants of corporate events of stock splits. The evidence sho...
Although stock splits seem to be a purely cosmetic event, there exists ample empirical evidence from...
Stock splits are a relatively new phenomenon in Sri Lankan market, especially since 2007 with the ne...
One explanation offered for stock splits is that the split signals positive information by reducing ...
We observe significant post-split excess returns of 7.93 percent in the first year and 12.15 percent...
Stock splits are known to have a negative effect on market quality—while stock prices adjust consist...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
Stock splits are a common capital structure alteration which ought to have no effect on firm value i...
It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many...
The prior literature finds that stock splits worsen liquidity, as measured by percent effective spre...
In the stock market there occur some events that contradict the efficient market hypothesis therefor...
In the stock market there occur some events that contradict the efficient market hypothesis therefor...
This study examines whether liquidity improves following REIT stock splits. We find that REIT liquid...
One explanation offered for stock splits is that the split signals positive information by reducing ...
This paper examines the aggregate determinants of corporate events of stock splits. The evidence sho...
Although stock splits seem to be a purely cosmetic event, there exists ample empirical evidence from...
Stock splits are a relatively new phenomenon in Sri Lankan market, especially since 2007 with the ne...
One explanation offered for stock splits is that the split signals positive information by reducing ...
We observe significant post-split excess returns of 7.93 percent in the first year and 12.15 percent...
Stock splits are known to have a negative effect on market quality—while stock prices adjust consist...