Francis, Bill B.; Hasan, Iftekhar; Zhou, Mingming - In: International Journal of Banking, Accounting and Finance 5 (2013) 1/2, pp. 159-187
Since the seminal article by Fama et al. (1969) that splits are associated with real economic effects, existing literature is still inconclusive on whether stock splits signal private information as the signalling hypothesis predicts. Our study is motivated by the conjecture that stock splits...