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Our signaling theory rests on the assumption that stock splits are costly. A ...... and stock splits, Journal of Accounting Research 9, 367-374. ...

http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID721505_code241805.pdf?abstractid=717801&mirid=1

One major theory of splits is the signaling theory of Brennan and ...... variance of returns around stock splits, Journal of Financial Research 17, 415-433 ...

http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID923648_code352464.pdf?abstractid=675923

H1: The signaling theory predicts that the trading liquidity of a split stock ...... Stock dividends, stock splits, and signaling. Journal of Finance, 45, ...

http://www.springerlink.com/index/8453gg3154k22t10.pdf

Capital structure theory and REIT security offerings. Journal of ... Stock dividends, stock splits, and signaling. Journal of Finance,. 45(3), 857–879. ...

http://www.springerlink.com/index/P721R3428V21J868.pdf

split/dividend is the “signaling effect.” The announcement .... 2 James Angel, “Picking Your Tick: Toward a New Theory of Stock Splits,” ... Stock Splits and Reverse Splits”, Journal of Business, Vol. 70, 1997. ...

http://www.ccgasiair.com/white_papers/Stock_split_100708_FINAL.pdf

hypotheses that support stock split as a signaling device. ..... According to pecking order theory, financing projects by new equity conveys negative .... Splits and Stock Dividends,” Journal of Financial Economics, 13: 461-490. ...

http://www.bus.tu.ac.th/uploadPR/บทความ ADV/Arnat.pdf

In theory, stock splits should have no impact on firm value because a ...... Stock dividends, stock splits, and signaling. Journal of Finance, 45, 857-879. ...

http://www.bus.tu.ac.th/intranet/research/web/Seksak_Insider ownership.pdf

The purpose of this event study is to test market efficiency theory by analyzing the impact of three ..... "What do stock splits really signal?." Journal of ...

http://asbbs.org/files/2009/PDF/G/Garcia de Andoain.pdf

by J Zhang - Related articles

http://www.hgu.gu.se/files/cff/final thesis ader-diamant v06.pdf

by YAN ZHANG - Related articles

http://www.owlnet.rice.edu/~yanzh/Zhang_Wiersema_SMJ2009.pdf

the signalling theory of Bhattacharya (1979), while the behavioural finance ..... much more like a stock split and unlike cash dividends, only 29.8% believe that this ..... performance and strategic trading', Journal of Finance, Vol. ...

http://inderscience.metapress.com/index/AT1425Q74R2W7212.pdf

The Wall Sbeet Journal (m and Investment Dealers' Digest (IDD). We ..... Adveme selection signaling theory based in Myen (1984) suggests a negative d c i e n t ..... K and D. Suk, "Inside Ownership and Signals: Evidence from Stock Split ...

http://inderscience.metapress.com/index/T0574J27772H2166.pdf

by SP FERRIS - Cited by 5

http://lsb.scu.edu/asarin/PublishedPapers/Splits.pdf

signaling theory, managers declare stock splits to convey favorable private ... according to articles on the Wall Street Journal (e.g, November 24, 2004, ...

http://www.fma.org/Chicago/Papers/splitbeforema.pdf

signaling and optimal trading range and find that none of the existing ...... In our theory, the tradeoff for the stock split is between the benefit of an ...

http://www.finance.nsysu.edu.tw/SFM/17thSFM/program/FullPaper/071-2139520315.pdf

If managers utilize stock splits as signalling devices to convey ... As GMT (1984) point out, the validity of signalling theory as an explanation of stock ...... Journal articles stated that the stock split announcements were subject to ...

http://www.hicbusiness.org/biz2003proceedings/Kevin L. Kemerer 2.pdf

by R Dhar - Cited by 31

http://faculty.gsm.ucdavis.edu/~nzhu/papers/split.pdf

by M Savitri - Related articles

http://staff.blog.ui.ac.id/martani/files/2008/02/stock-split.pdf

Signaling Theory of Debt vi. Market Timing Hypothesis ... Stock splits and stock dividends: Why, who, and when. The Journal of Finance, 42(4):913–932, ...

http://homepage.univie.ac.at/gyoengyi.loranth/documents/course-outlines/VK Financial Policy2009Loranth .pdf

by IR Akintoye - 2008 - Related articles

http://www.eurojournals.com/ejss_7_2_01.pdf

by P Pavabutr - 2008 - Related articles

http://www.eurojournals.com/irjfe_20_09.pdf

by A NIINI - Cited by 3

http://lta.hse.fi/2000/1/lta_2000_01_a2.pdf

In theory, stock-splits are cosmetic corporate events as they simply increase the .... If a stock split is a signal of undervaluation, and if ..... The case of reverse stock splits”, Journal of Financial Research Vol 15, pp. 189- ...

http://www.wbiconpro.com/7.Madhumita.pdf

reduce noise in share repurchases, reverse stock splits were deleted in the sample firms. ... is looking at share repurchases as a positive signal by management, it is .... “Toward a Theory of Equitable and Efficient Market Policy.” The ... Signalling: An Empirical Study,” Journal of Financial Economics, 9: 139-183.

http://www.wbiconpro.com/369-Khaledi,N & Darayseh,M.pdf

by P Dennis - Cited by 31

http://www.cob.ohio-state.edu/fin/journal/dice/papers/1998/98-1.pdf

Theory and evidence, Journal of. Financial Markets, 5, 83–125. .... stock splits and signaling, Journal of Finance, 46, 3–28. Muscarella, C. and Vetsuypens, ...

http://www.informaworld.com/index/775674816.pdf

speaking, the theory of financial economics suggests that a firm should .... FFJR, the stock split should be regarded as a confikation signal. .... Charest, G. (1978) Split information, stock returns and market efficiency-I, Journal of ...

http://www.informaworld.com/index/739327687.pdf

by Q LI - Cited by 4

http://www.rst.nus.edu.sg/research/workingpaper/2005-013.pdf

it with the information-signaling theory. According to the theory, ..... stock split. 0.0000. 1.0000. 0.0000. Host International Inc 25-Nov-68 ...

http://jht.sagepub.com/cgi/reprint/25/1/69.pdf

by U Bhattacharya - Cited by 6

http://www.business.illinois.edu/Finance/papers/2001/dittmar.pdf

by H Koerniadi - Related articles

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by N Chuvakhin - Cited by 1

http://ncbase.com/papers/EMH-BF.pdf

by EA Dyl - Cited by 24

http://finance.eller.arizona.edu/documents/facultypublications/EDyl.JOB_SharePrizePuzzle.pdf

Topic 4: Signalling Theory applied to Earnings Management (1 student) ... around Stock Splits. Journal of Accounting and Economics, 39, 2 (June), 361-380. ...

http://www.hec.unil.ch/documents/msc/Syllabus_Earnings_Manag_08_09.pdf

by U Bhattacharya - Cited by 9

http://webuser.bus.umich.edu/adittmar/Costless_versus_Costly_Signaling.pdf

by U Bhattacharya - Cited by 6

http://www.nd.edu/~finance/020601/news/Bhattacharya Paper.pdf

Theory and evidence, Journal of Financial Markets 5, 83-125. ... Stock dividends, stock splits, and signaling,. Journal of Finance 45, 857-879. ...

http://www.olemissbusiness.com/financialReview/documents/FR0842.pdf

by WT Chittenden - Related articles

http://www.olemissbusiness.com/financialReview/documents/FR0839.pdf

by M Simkovic - Related articles

http://blogs.law.harvard.edu/corpgov/files/2007/05/20070516 Open Market Stock Repurchases.pdf

The central proposition in agency theory is that counterparties have an ...... “Stock Dividends, Stock Splits, and. Signaling,” Journal of Finance, ...

http://www.nber.org/papers/w6451.pdf

"Stock Splits, Signaling, and Long-Run Stock Performance," (The result of this paper is ... Finance, Journal of Applied Business and Finance, Journal of Banking and Finance ... PhD: Theory of Finance (I). MBA/MSc: Derivative Securities, ...

http://www.bschool.nus.edu/Departments/FinanceNAccounting/seminars/cv-chuan-yang hwang.pdf

The effects of stock splits are puzzling. In theory a stock split is merely an ..... This evidence is consistent with the hypothesis that stock splits signal .... and E. Stice, 1996, What do stock splits really signal? Journal of ...

http://gates.comm.virginia.edu/pjd9v/paper_splits.pdf

In addition, firms are not likely to use stock splits to signal favor- ... The overconfidence theory of DHS suggests that there is ... Barberis, N., A. Shleifer, and R. Vishny, 1998, “A Model of Investor Sentiment,” Journal of Financial ...

http://rfs.oxfordjournals.org/cgi/reprint/15/2/527.pdf

by N Travlos - 2001 - Cited by 14

http://mfs.rutgers.edu/MFJ/Articles-pdf/V05N2p1.pdf

by J Capstaff - Cited by 4

http://mfs.rutgers.edu/MFJ/Articles-pdf/V08N12p4.pdf

by BB De MesquitaGuided by a theory of governance known as the selectorate theory (Bueno ...... Stock Dividends, Stock Splits, and Signaling. Journal of Finance 45: 857-879. ...

http://w4.stern.nyu.edu/clb/docs/06-001.pdf

Modern financial theory, corporate strategy and public .... stock split and stock dividend decisions. Journal of Business Finance and Accounting. Winter. 543-551. ..... Common stock repurchases and market signaling: an empirical ...

http://sunzi1.lib.hku.hk/hkuto/view/B29775139/bi.pdf

by JC Brau - 2006 - Cited by 10

http://business.fullerton.edu/Finance/Journal/papers/pdf/past/vol28n01/01.1_24.pdf

by AR Dravid - Cited by 8

http://finance.wharton.upenn.edu/~rlwctr/papers/9106.PDF

by U Seifert - Cited by 8

http://edoc.hu-berlin.de/series/sfb-373-papers/2003-48/PDF/48.pdf