Huang, Gow-Cheng; Liano, Kartono; Manakyan, Herman; … - In: The Financial Review 43 (2008) 4, pp. 543-567
We examine the relationship between the frequency of stock splits and firms' motives for splitting their stock. Compared to their peers, infrequent splitters show higher post-split operating performance, but not so for frequent splitters. We find that split ratio and liquidity change explain the...