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Author : Dong Man Kim
Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.:/5 (241 download)
Download or read book Stock Splits and the Composition of Shareholders written by Dong Man Kim and published by . This book was released on 1990 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patrick Dennis
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (46 download)
Download or read book The Effect of Stock Splits on Liquidity written by Patrick Dennis and published by . This book was released on 1998 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ilene Frances Levin
Publisher :
ISBN 13 :
Total Pages : 134 pages
Book Rating : 4.:/5 (293 download)
Download or read book Stock Splits, Share Prices, and Ownership Composition written by Ilene Frances Levin and published by . This book was released on 1993 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patrick J. Dennis
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Effect of Stock Splits on Liquidity and Excess Returns written by Patrick J. Dennis and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the influence of firm ownership composition on both the abnormal returns at the announcement of a stock split and liquidity changes following a stock split. We find three results. First, the largest post-split increase in institutional ownership occurs for firms that had low institutional ownership before the split. Second, changes in liquidity are negatively related to the level of institutional ownership before the split. Last, the abnormal return following a split is negatively related to the level of institutional ownership before the split. These findings are important as they shed new light on the source of stock split announcement returns.
Author : Sandip Mukherji
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Effect of Stock Splits on the Ownership Structure of Firms written by Sandip Mukherji and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Although several researchers have speculated that stock splits may affect the ownership structure of firms, there is very little empirical evidence available in this regard. We investigate a broad sample of stock splits by firms without confounding events, controlling for industry and size effects. Our results show that stock splits increase the numbers of both individual and institutional shareholders, and they do not affect the proportion of equity held by institutions. Further, changes in the numbers of individual and institutional shareholders are positively related to the split factor. Abnormal announcement returns are positively correlated with changes in the total number of shareholders. These findings support the signaling hypothesis.
Author : Samuel H. Szewczyk
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Why Stock Splits? Evidence from Institutional Ownership written by Samuel H. Szewczyk and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the motives for stock splits in the context of the announcing firm's institutional ownership. We report an inverse relationship between the magnitude of announcement period abnormal returns and the percentage of the firm's institutional ownership, indicating that stock splits are more valuable to firms with low institutional ownership. Results also suggest that the motivation for initiating stock splits is not uniform across firms; rather it is contingent upon the firm's pre-split institutional ownership. Firms with low pre-split institutional ownership experience significant increases in the number of institutional shareholders following stock splits. In contrast, firms with high pre-split institutional ownership stabilize the proportion of their shares owned by institutions following stock splits. Overall the evidence suggests that announcements of stock splits attract the attention of financial analysts to undervalued firms and induce changes in post-split institutional ownership.
Author : Vijay M. Jog
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (129 download)
Download or read book Thirty Years of Stock Splits, Reverse Stock Splits, and Stock Dividends in Canada written by Vijay M. Jog and published by . This book was released on 2005 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use thirty years of Canadian evidence to shed light on the implications of Stock Splits, stock dividends and reverse splits. We focus on the period around -60 months to +60 months of the event month and examine changes in returns, eps, betas, trading volume, number of transactions and P/E ratios. Our results indicate that there is no information signalling since the performance of stocks in the post-event period is less than pre-event but there is an increase in the trading volume but the per transaction trading volume decreases considerably. This evidence supports the optimum price hypothesis and a change in the shareholder composition. In addition we show that there is a permanent change in the valuation parameter as denoted by P/E ratios possibly as a result of a shift between institutional investors to individual investors.
Author : Thomas A. Rees
Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.:/5 (2 download)
Download or read book Stock Split-ups and the Investor written by Thomas A. Rees and published by . This book was released on 1962 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Józef Rudnicki
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (131 download)
Download or read book Further Evidence on the Impact of Stock Splits on Trading Liquidity written by Józef Rudnicki and published by . This book was released on 2013 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock splits have attracted the attention of academicians and practitioners for a long time. Many debates revolve around these often called "cosmetic” events that do not bring about any direct valuation implications. In spite of their simplicity and theoretically no motivation for any potential reaction this corporate event exerts influence on various stock's characteristics like liquidity, rates of return, shareholders' base etc. Considering the time period 2000-May 2011 the author examines the behavior of share volume following the stock splits of companies listed on the New York Stock Exchange and reports a 1-percent significant deterioration of this proxy of liquidity. Additionally, the greatest amplitude of abnormal changes in liquidity is observed during two trading sessions around the actual stock split although there is provided no new information to the market through the physical split of the shares outstanding since it is well-known in advance. The results obtained are indicative of the fact that splitting the stock as opposed to liquidity and/or trading range hypotheses on splits leads to liquidity deterioration what, in turn, should result in greater liquidity risk faced inter alia by brokers and/or market makers who may be willing to compensate for this unfavorable corollary of the corporate event at issue and, as a result, to charge higher transaction costs in the form of e.g. greater bid-ask spreads. On the other hand, shareholders, both existing and prospective, are likely to demand higher compensation for increased risk by requiring greater returns on such stocks.
Author : Helen B. Mason
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Stock Splits written by Helen B. Mason and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between firm stock split behavior and pre-split institutional ownership. Results identify a positive relationship between pre-split institutional ownership measures and split behavior. A firm size effect implies that larger firms have higher percentages of institutional ownership and that these owners either encourage stock split behavior, have the ability to identify firms with stock split characteristics in the pre-split period, or both. Institutions purchasing shares in the identified firms in the pre-split period, therefore, expect short-term and long-term earnings increases.
Author : Andreas Cahn
Publisher : Cambridge University Press
ISBN 13 : 1107186358
Total Pages : 1095 pages
Book Rating : 4.1/5 (71 download)
Download or read book Comparative Company Law written by Andreas Cahn and published by Cambridge University Press. This book was released on 2018-10-04 with total page 1095 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents in-depth, comparative analyses of German, UK and US company laws illustrated by leading cases, with German cases in English translation.
Author : Chunhui Yuan
Publisher : Springer Nature
ISBN 13 : 9811653593
Total Pages : 527 pages
Book Rating : 4.8/5 (116 download)
Download or read book Proceedings of the 4th International Conference on Economic Management and Green Development written by Chunhui Yuan and published by Springer Nature. This book was released on 2021-08-13 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proceedings shed light on selected topics including economic management, public administration, and green development. Featuring scholarly works from the 4th International Conference on Economic Management and Green Development (ICEMGD 2021), this volume of proceedings showcases the papers composed with regard to a diverse range of topics situated at the intersecting field of Economic Management, Public Administration and Green Development. Arising as the top concern of the global community, issues of green development impose challenges for the academia to bridge the interdisciplinary prowess in tackling the gap of knowledge within concerned fields. ICEMGD 2021 is an annual conference initiated by the year of 2017 under the goal of bringing together intellectuals from economics, business management, public administration, and otherwise related spheres for the share of research methods and theoretical breakthroughs. The aim of the proceeding volume is for the integration of social scientific research methods with research into alarming development issues. The ICEMGD 2021 seeks to promote joint initiatives among well-established fields like macro- and microeconomics, international economics, finance, agricultural economics, health economics, business management and marketing strategies, regional development studies, social governance, and sustainable development. Featuring interdisciplinary contributions, this book will be of interest to researchers, academics, professionals and policy makers in the field of economic management, public administration, and development studies.
Author : United States. Securities and Exchange Commission
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (31 download)
Download or read book Securities Exchange Act of 1934 as Amended written by United States. Securities and Exchange Commission and published by . This book was released on 1964 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Cheng F. Lee
Publisher : World Scientific
ISBN 13 : 9812791698
Total Pages : 270 pages
Book Rating : 4.8/5 (127 download)
Download or read book Advances in Quantitative Analysis of Finance and Accounting written by Cheng F. Lee and published by World Scientific. This book was released on 2008 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Quantitative Analysis of Finance and Accounting is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting, as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and accounting profession. The chapters in this volume cover a wide range of important topics, including corporate finance and debt management, earnings management, options and futures, equity market, and portfolio diversification. These topics are very useful for both academicians and practitioners in the area of finance.
Author : Lawrence A. Cunningham
Publisher : Columbia University Press
ISBN 13 : 0231552777
Total Pages : 215 pages
Book Rating : 4.2/5 (315 download)
Download or read book Quality Shareholders written by Lawrence A. Cunningham and published by Columbia University Press. This book was released on 2020-11-03 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anyone can buy stock in a public company, but not all shareholders are equally committed to a company’s long-term success. In an increasingly fragmented financial world, shareholders’ attitudes toward the companies in which they invest vary widely, from time horizon to conviction. Faced with indexers, short-term traders, and activists, it is more important than ever for businesses to ensure that their shareholders are dedicated to their missions. Today’s companies need “quality shareholders,” as Warren Buffett called those who “load up and stick around,” or buy large stakes and hold for long periods. Lawrence A. Cunningham offers an expert guide to the benefits of attracting and keeping quality shareholders. He demonstrates that a high density of dedicated long-term shareholders results in numerous comparative and competitive advantages for companies and their managers, including a longer runway to execute business strategy and a loyal cohort against adversity. Cunningham explores dozens of corporate practices and policies—such as rational capital allocation, long-term performance metrics, and a shareholder orientation—that can help shape the shareholder base and bring in committed owners. Focusing on the benefits for corporations and their investors, he reveals what draws quality shareholders to certain companies and what it means to have them in an investor base. This book is vital reading for investors, executives, and directors seeking to understand and attract the kind of shareholders that their companies need.
Author : H. Kent Baker
Publisher : John Wiley & Sons
ISBN 13 : 0470455802
Total Pages : 552 pages
Book Rating : 4.4/5 (74 download)
Download or read book Dividends and Dividend Policy written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2009-05-04 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividends And Dividend Policy As part of the Robert W. Kolb Series in Finance, Dividends and Dividend Policy aims to be the essential guide to dividends and their impact on shareholder value. Issues concerning dividends and dividend policy have always posed challenges to both academics and professionals. While all the pieces to the dividend puzzle may not be in place yet, the information found here can help you gain a firm understanding of this dynamic discipline. Comprising twenty-eight chapters—contributed by both top academics and financial experts in the field—this well-rounded resource discusses everything from corporate dividend decisions to the role behavioral finance plays in dividend policy. Along the way, you'll gain valuable insights into the history, trends, and determinants of dividends and dividend policy, and discover the different approaches firms are taking when it comes to dividends. Whether you're a seasoned financial professional or just beginning your journey in the world of finance, having a firm understanding of the issues surrounding dividends and dividend policy is now more important than ever. With this book as your guide, you'll be prepared to make the most informed dividend-related decisions possible—even in the most challenging economic conditions. The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals.
Author : Jeffrey L. Huston
Publisher : Archway Publishing
ISBN 13 : 1480825050
Total Pages : 266 pages
Book Rating : 4.4/5 (88 download)
Download or read book The Declaration of Dependence written by Jeffrey L. Huston and published by Archway Publishing. This book was released on 2015-11-30 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes to investing, its not all about earnings per share. Many investors pay just as muchif not moreattention to whether a company pays dividends, dividend yields, and how fast dividends are expected to grow. Whether youre an investor or corporate executive, its important to consider how dividend policy can inflate or deflate stock prices. This book provides valuable insights into how dividend payouts affect success. Topics include: origins and types of dividend payments; taxes as an influence on dividend payments; stockholder reactions to dividend omissions, initiations, and reductions; utilities and why they consistently pay high dividends. The author highlights how managers of larger, more mature firms establish a declaration of dependence between their firms and their investors. The payment of a regular dividend, which fluctuates much less than underlying earnings, is not required by law but can be a sacred compact among investors and managers. Take a key step in evaluating your company and/or investment portfolio and stay on track with The Declaration of Dependence: Dividends in the Twenty-First Century.
