Stock Splits: Prior and Subsequent Price Relationships
作者:
FRANK J. FINN,
期刊:
Journal of Business Finance&Accounting
(WILEY Available online 1974)
卷期:
Volume 1,
issue 1
页码: 93-106
ISSN:0306-686X
年代: 1974
DOI:10.1111/j.1468-5957.1974.tb00852.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Although it has long been recognized that a stock split merely changes the packaging of an investor's claim to earnings, there is widespread belief in the financial community that the split confers some substantive benefits on stockholders. This paper describes an empirical investigation of the effect of split action on stock price. The split action was found to have an insignificant effect, even at a 10% level, on changes in market price over the 12 month period surrounding the split.
点击下载:
PDF
(648KB)
返 回