Hwang, Jae-Kwang; Dimkpah, Young; Ogwu, Alex - In: International Advances in Economic Research 18 (2012) 4, pp. 439-449
This paper examines the market response of the reverse stock splits by using the effective date to trace the abnormal returns after reverse splits over the period of 1981 to 2010:3. The findings show that the short-term behavior of the abnormal returns on the effective date is negative and...