Weld, William C.; Michaely, Roni; Thaler, Richard H.; … - In: Journal of Economic Perspectives 23 (2009) 2, pp. 121-42
The average nominal share prices of common stocks traded on the New York Stock Exchange have remained constant at approximately $35 per share since the Great Depression as a result of stock splits. It is surprising that U.S. firms actively maintained constant nominal prices for their shares...
