Stock Splits and Information: The Role of Share Price

Managers appear to design stock splits to return the price of the company's shares to the price level achieved after the last split. Reducing the share price below the price achieved in the last split is interpreted by investors and securities analysts as a positive signal.

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Year of publication:	1999
Authors:	Conroy, Robert M. ; Harris, Robert S.
Published in:	Financial Management. - Financial Management Association - FMA. - Vol. 28.1999, 3
Publisher:	Financial Management Association - FMA

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005765046