haku: @indexterm Stock splits / yhteensä: 17
viite: 4 / 17
| Tekijä: | Byun, J. Rozeff, M. S. |
| Otsikko: | Long-run performance after stock splits: 1927 to 1996 |
| Lehti: | Journal of Finance
2003 : JUN, VOL. 58:3, p. 1063-1085 |
| Asiasana: | Stock splits Performance appraisal Business history |
| Kieli: | eng |
| Tiivistelmä: | The authors measure the postsplit performance of 12,747 stock splits 1927-1996 using two methods to measure abnormal returns: size and book-to-market reference portfolios with bootstrapping , and calender-time abnormal returns combined with factor models. Between 1927 and 1996, neither method applied to splits 25 percent or larger finds performance significantly different from zero. Overall, the stock split evidence against market efficiency is neither pervasive nor compelling. |
SCIMA