The Impact of Clientele Changes: Evidence from Stock Splits
A stock split occurs when a company changes the number of shares it has outstanding. For example, suppose the firm had 1 million shares outstanding and then announced a 2:1 split. The firm would now have 2 million shares outstanding. It is not surprising that the stock price drops after the split, but what continues to leave researchers puzzled is why there … [ Read more ]
Content: Article | Authors: Ning Zhu, Ravi Dhar, William N. Goetzmann | Source: Social Science Research Network (SSRN) | Subjects: Finance, Industry Specific | Industry: Investment Banking