haku: @author Zhang, H. / yhteensä: 15
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| Tekijä: | Kryzanowski, L. Zhang, H. |
| Otsikko: | Introduction of dual-class shares: further evidence on Canadian pro-rata distributions |
| Lehti: | International Review of Financial Analysis
1995 : VOL. 4:1, p. 67-79 |
| Asiasana: | CANADA SHARES DISTRIBUTION |
| Kieli: | eng |
| Tiivistelmä: | This study re-examines the effect of the creation of dual-class shares using stock splits. The effect is examined for stocks listed on the Toronto Stock Exchange for four types of investor strategies (passive-, value-, control- and arbitrage-oriented) and three types of trading behaviors (market, limit, and closing orders). Although little evidence of abnormal returns or systematic risk changes is found on the ex-dates using closing orders, these ex-date abnormal returns are not robust to other order types. |
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