Stock returns' variance behavior surrounding stock splits: evidence from trade-by-trade data 1978-1985
Accepted financial theory holds that stock splits provide no wealth benefits to stock-holders. The corporate management view is that stock splits add value by placing the stock in a more liquid price range. Empirical explanations of excess returns near the split rely principally upon an information...
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Virginia Polytechnic Institute and State University
2014
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| Online Access: | http://hdl.handle.net/10919/49855 |