Yagüe, José; Gómez-Sala, J. Carlos; Poveda-Fuentes, … - In: Global Finance Journal 20 (2009) 1, pp. 31-47
This study uses a sample of Spanish companies to examine the use of stock split announcements as signals of a firm's earnings performance. Our results confirm that, as in other stock markets, investors in the Spanish market upwardly revise share prices and financial analysts improve their...