Publication Date

1-1-2005

Document Type

Dissertation/Thesis

First Advisor

Banko, John C.

Degree Name

B.S. (Bachelor of Science)

Department

Department of Finance

Abstract

When the standard event study is expanded using the Fama and French factors in the regression analysis of the market reaction to a stock split, significant post-split excess returns are observed on the day of the announcement for smaller firms. Larger firms, on the other hand do not report significant returns. This suggests that smaller firms experience a greater reaction than larger firms. When separated by book-to-market quintiles, only the returns for value stocks were significant at the 1% level. This indicates that only value stocks are significantly affected by an announcement of a stock split.

Extent

16 unnumbered pages

Language

eng

Publisher

Northern Illinois University

Rights Statement

In Copyright

Rights Statement 2

NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.

Media Type

Text

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