The Price Impacts of Reverse Stock Splits
Author | : William Bartmess Gillespie |
Publisher | : |
Total Pages | : 470 |
Release | : 1974 |
Genre | : Stock splitting |
ISBN | : |
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Author | : William Bartmess Gillespie |
Publisher | : |
Total Pages | : 470 |
Release | : 1974 |
Genre | : Stock splitting |
ISBN | : |
Author | : Gerald Martin Zusel |
Publisher | : |
Total Pages | : 238 |
Release | : 1970 |
Genre | : |
ISBN | : |
Author | : Lifan Wu |
Publisher | : |
Total Pages | : 44 |
Release | : 1996 |
Genre | : Stock splitting |
ISBN | : |
Author | : Lifan Wu |
Publisher | : |
Total Pages | : |
Release | : 1998 |
Genre | : |
ISBN | : |
We analyze a sample of stock splits and reverse stock splits on the Stock Exchange of Hong Kong (SEHK) over the period 1986 through 1992. Consistent with studies on stock splits and reverse stock splits made in the U.S. capital markets, our analysis shows that stock splits are associated with a positive and significant stock market response whilst reverse stock splits are associated with a negative but statistically insignificant price effect. We also investigate the quot;optimal price rangequot; hypothesis which states that firms choose the split factor (SF) as a device to return the stock price to a quot;preferred price rangequot;. Our result suggests a positive relation between the magnitude of the SF and the deviation of the pre-split stock price from the historical price level in the stock split sample. However, we do not find a systematic pattern affecting the use of the SF in the reverse split sample.
Author | : Roger Lee Miller |
Publisher | : |
Total Pages | : 232 |
Release | : 1962 |
Genre | : |
ISBN | : |
Author | : Arthur H. Schultz |
Publisher | : |
Total Pages | : 84 |
Release | : 1957 |
Genre | : |
ISBN | : |
Author | : Barry Marchman |
Publisher | : |
Total Pages | : |
Release | : 2007 |
Genre | : |
ISBN | : |
An examination of financial ratios and variables reveals that firms with better sales performance and higher operating-income-to-assets have better ex-date returns. In the long run, firms with lower debt relative to their assets do better after the reverse stock split. Operating income expressed as a percent of assets is also positively related to the 250-day BHRs.
Author | : 周開國 |
Publisher | : |
Total Pages | : 294 |
Release | : 2003 |
Genre | : Stock exchanges |
ISBN | : |
Author | : Peter Sherman Kimball |
Publisher | : |
Total Pages | : 274 |
Release | : 1963 |
Genre | : Stock splitting |
ISBN | : |
Author | : Frederick Richard Reuter |
Publisher | : |
Total Pages | : 126 |
Release | : 1969 |
Genre | : Business |
ISBN | : |