Desai, Hemang; Jain, Prem C - In: The Journal of Business 70 (1997) 3, pp. 409-33
The authors examine one-three-year performance of common stocks following 5,596 stock split and 76 reverse split announcements made during the period 1976-91. For stock splits, on average, the one- and three-year buy-and-hold abnormal returns after the announcement month are 7.05 percent and...