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| Author: | So, R. W. Tse, Y. |
| Title: | Rationality of stock splits: The target-price habit hypothesis |
| Journal: | Review of Quantitative Finance and Accounting
2000 : JAN, VOL. 14:1, p. 67-84 |
| Index terms: | Stock markets Companies Rationality Sociology Models |
| Language: | eng |
| Abstract: | There is the research inspiring question why do firms exercise stock splits. This paper considers the sociological aspects of maintaining a stable target-price habit. It is argued that one principal reason for stock splits is to conform to the market norm. Models based on economic reasons alone do not fully explain the rationality of stock splits. |
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