Kohsaka, Youki - Graduate School of Economics, Osaka University - 2011
This paper examines whether the stock split bubble in Japan burst by not only reformed system, but also Livedoor-shock … split stocks in the new system, the news of which was announced before and after Livedoor-shock. Empirical results reveal … that restriction on trade of newly issued stocks in the old system caused the run-up in the stock price and that Livedoor-shock …