Huang, Gow-Cheng; Liano, Kartono; Pan, Ming-Shiun - In: Journal of Economics and Finance 39 (2015) 1, pp. 119-135
This study examines the effects of stock splits on stock liquidity. We find that most liquidity measures increase substantially around the stock split announcement. After the announcement date, split firms’ liquidity declines, but is still above the pre-split level. However, after the ex-date,...