Kadapakkam, Palani-Rajan; Krishnamurthy, Srinivasan; … - In: Journal of Financial and Quantitative Analysis 40 (2005) 04, pp. 873-895
Stock split ex-dates are associated with both an increased intensity of small investor buying and a positive abnormal return. The broker promotion hypothesis suggests that the increase in relative spread after a split induces brokers to promote splitting stocks to small investors. The trading...
