Impact of splits on stock splits ratios around announcement day: empirical evidence from India

The market reaction to stock splits: Evidence from Germany

Although stock splits seem to be a purely cosmetic event, there exists ample empirical evidence from the United States that stock splits are associated with abnormal returns on both the announcement and the execution day, and additionally with an increase in variance following the ex-day. This paper investigates the market reaction to stock splits using a set of German firms. Consistent with th...

Dual-Class Stock Splits and Liquidity

We examine liquidity effects of dual-class stock splits that change firms’ ownership structure from one share one vote to two classes with disparate voting rights. Following dual-class splits, effective spreads, price impacts, and order execution difficulty increase and the investor base decreases significantly for both superiorand inferior-voting shares. In contrast, following a matched sample...

Matroids from hypersimplex splits

The effect of stock splits on liquidity and excess returns: Evidence from shareholder ownership composition

We examine the impact of firm ownership composition on both the abnormal returns at the announcement of a stock split and liquidity changes following a stock split. We find three results. First, the largest post-split increase in institutional ownership occurs for firms that had low institutional ownership prior to the split. Second, changes in liquidity are negatively related to the level of i...

An Empirical Insight of Examining Impact of Recent Demonetization on Monetary System: Evidence from India

Abstract D emonetization initiative by Govt. of India in Nov-Dec, 2016 aimed at addressing the issues like black money, hoarding and overall cleansing the monetary system. This paper in this regard attempts to empirically examine the impact of demonetization drive upon the monetary system by taking data of 180 days prior to Nov, 2016. The cointegration results exhibit show a long run ...