The Effect of Stock Splits on Small, Medium, and Large-sized Firms Before and After Decimalization
Description:
This study examines the impact of reducing tick size and, in particular decimalization on stock splits. Based on previous studies, this study examines hypotheses in the following three areas: first, market reaction around stock split announcement and ex-dates, second, the effect of tick size on liquidity after stock split ex-dates, and third, the effect of tick size on return volatility after stock split ex-dates. The impact of tick size on market reaction around split announcement and ex-dates…
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Date:
December 2013
Creator:
Jang, Seon Deog