Survival: A Motivation for Reverse Stock Splits

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

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...

متن کامل

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...

متن کامل

Stock Splits, Trading Continuity, and the Cost of Equity Capital

Based on the premise that non-trading reflects illiquidity, we hypothesize that managers use stock splits to attract more uninformed trading so that market makers can provide liquidity services at lower costs, which increases investors’ trading propensity and improves liquidity. The improvement allows investors to face reduced liquidity risk and require a lower liquidity premium, which in turn ...

متن کامل

Irrational investor response to stock splits in an emerging market

In the backdrop of the creation and collapse of the Cyprus stock market bubble, we document substantial positive abnormal returns around the announcement and execution of stock splits in Cyprus. Split-induced returns cannot be explained by variables proxying for conventional liquidity and signalling hypotheses for stock split activity, and are largely reversed in the post-split months. Post-spl...

متن کامل

Killer splits

Although killer whales showed overall low levels of mitochondrial sequence variation, the researchers found three fixed differences between the open-sea type A whales compared with the two ice-inhabiting, other forms. " The genetic pattern suggests that, for females at least, there is no gene flow between them, " the authors write. But they do point out that the evidence for reproductive isolat...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Journal of Finance and Economics

سال: 2017

ISSN: 2328-7284

DOI: 10.12691/jfe-5-5-2