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Utility Stock Splits
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Book Synopsis Utility Stock Splits by : Maria Mercedes Miranda
Download or read book Utility Stock Splits written by Maria Mercedes Miranda and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the rich literature on theories of stock splits, studies have omitted public utility firms from their analysis and only analyzed split by industrial firms when examining managerial motives for splitting their stock. I examine the liquidity-marketability hypothesis, which states that stock splits enhance the attractiveness of shares to individual investors and increase trading volume by adjusting prices to an optimum trading range. Changes in the regulatory process, resulting from EPACT, have opened a window of opportunity for the study and comparison of the two traditional motives for splitting stock --signaling versus liquidity-marketability motives. Public electric utility firms provide a clean testing ground for these two non-mutually exclusive theories as liquidity/marketability hypothesis should dominate before the enactment of the EPACT since the conventional signaling theory of common stock splits should not apply given the low levels of information asymmetry in regulated utility companies. In the post-EPACT period, however, the signaling effect is expected to play a more dominant role. Based on both univariate and multivariate analyses, my results are consistent with the hypothesis posed. For the pre-EPACT period, liquidity motive seems to predominate in explaining the abnormal announcement return of utility stock splits. On the other hand, the results support the signaling motive as a leading explanation of abnormal returns in the post-EPACT period.
Book Synopsis Investing in Utilities by : Daniel D. Singer
Download or read book Investing in Utilities written by Daniel D. Singer and published by Irwin Professional Publishing. This book was released on 1990 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thoroughly comprehensive guidebook. Focusing on the electric, telecommunications, natural gas, and water industries. Teaches everything needed to properly understand and evaluate the stocks of companies in these industries.
Book Synopsis Earnings and Stock Splits (Classic Reprint) by : Paul M. Healy
Download or read book Earnings and Stock Splits (Classic Reprint) written by Paul M. Healy and published by Forgotten Books. This book was released on 2017-11-21 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Earnings and Stock Splits The objective of this paper is to examine whether stock splits convey information about firms' earnings in the period surrounding the split announcements. In order to mitigate any confounding effects of simultaneous dividend changes, only firms that do not pay cash dividends at the time of the stock split are included in the sample. Our tests, based on a sample of 121 stock split announcements from the period 1970-1980, lead to several conclusions. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis Stock Splits as a Corporate Governance Device by : C. Wei Li
Download or read book Stock Splits as a Corporate Governance Device written by C. Wei Li and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper models a stock split as a mechanism for inducing uninformed investors to pay brokers' analysts (through trading commissions) and informed investors (through trading losses) to monitor managers and make stock price more informative, which in turn creates a better investment environment with lower information risk for themselves. The increased price informativeness enhances the efficiency of equity-based managerial compensation, which motivates managers to put more efforts and consume less perks, but causing them to face higher stock price volatility. To overcome the adverse effect of price volatility on their expected utility, managers would do a stock split only when the firm has been doing well and the persistent component of earnings is sufficiently large. Thus, our model suggests that stock splits have economic benefits because they serve as a corporate governance device that invites market monitoring and keeps managers better motivated.
Book Synopsis Financial and Operating Data by : Middle South Utilities, Inc
Download or read book Financial and Operating Data written by Middle South Utilities, Inc and published by . This book was released on 1969 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Utility Corporations by : United States. Federal Trade Commission
Download or read book Utility Corporations written by United States. Federal Trade Commission and published by . This book was released on 1932 with total page 1926 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Utilities by : Merrill Lynch, Pierce, Fenner & Beane
Download or read book Utilities written by Merrill Lynch, Pierce, Fenner & Beane and published by . This book was released on 1949 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Utilities Reports written by and published by . This book was released on 1967 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Public Utilities Reports by : Henry Clifford Spurr
Download or read book Public Utilities Reports written by Henry Clifford Spurr and published by . This book was released on 1967 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: Containing decisions of the regulatory commissions and of state and federal courts.
Book Synopsis Congressional Record by : United States. Congress
Download or read book Congressional Record written by United States. Congress and published by . This book was released on 1964 with total page 1434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Book Synopsis SEC Docket by : United States. Securities and Exchange Commission
Download or read book SEC Docket written by United States. Securities and Exchange Commission and published by . This book was released on 1993 with total page 1500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Annual Digest of Public Utilities Reports by :
Download or read book Annual Digest of Public Utilities Reports written by and published by . This book was released on 1967 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Statistical Supplement to the Survey of Current Business by :
Download or read book Statistical Supplement to the Survey of Current Business written by and published by . This book was released on 1949 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Interstate and Foreign Commerce Publisher : ISBN 13 : Total Pages :2352 pages Book Rating :4.:/5 (319 download)
Book Synopsis Public Utility Holding Companies by : United States. Congress. House. Committee on Interstate and Foreign Commerce
Download or read book Public Utility Holding Companies written by United States. Congress. House. Committee on Interstate and Foreign Commerce and published by . This book was released on 1935 with total page 2352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis National Gas Survey by : United States. Federal Power Commission
Download or read book National Gas Survey written by United States. Federal Power Commission and published by . This book was released on 1973 with total page 912 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Federal Energy Regulatory Commission. Technical Advisory Committee on Finance Publisher : ISBN 13 : Total Pages :438 pages Book Rating :4.F/5 ( download)
Book Synopsis National Gas Survey by : United States. Federal Energy Regulatory Commission. Technical Advisory Committee on Finance
Download or read book National Gas Survey written by United States. Federal Energy Regulatory Commission. Technical Advisory Committee on Finance and published by . This book was released on 1973 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Income and Expenses written by and published by . This book was released on 1995 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
