Market Reaction to Stock Splits from 2007 to 2010
Lucie Sislian
Broschiertes Buch

Market Reaction to Stock Splits from 2007 to 2010

An Empirical Evidence from the Egyptian Stock Exchange

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The stock split is a popular practice in many markets despite the fact that it does not fundamentally change the value of the firm. Many past evidences supported the liquidity hypothesis and found positive abnormal return around stock split date. However, all studies employed traditional event study methodology and defined the event date as either the announcement date or effective date. This thesis investigates the impact of stock splits on the firm s share prices on the Egyptian Exchange in the period 2007 to 2010. The purpose of this study is to test whether the investor can make an above n...