Crawford, Dean; Franz, Diana R.; Lobo, Gerald J. - In: American Journal of Finance and Accounting 1 (2009) 3, pp. 312-333
A widely cited finding from Grinblatt et al. (1984) (hereafter GMT) is that the market response to the announcement of a small stock distribution is greater than the response to a large one. However, the GMT result is not found for distributions declared from the early 1980s through the end of...
