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Rationality of Stock Splits: The Target-Price Habit Hypothesis
16 references·1 citing·32 second hop
Rationality of Stock Splits: The Target-Price Habit Hypothesis (2000)Rationality of Stock Splits: The Target-P…The Adjustment of Stock Prices to New Information (2003)The Adjustment of Stock Price…The Effects of Splitting on the Ex: A Microstructure Reconciliation (1992)The Effects of Splitting on t…Stock Prices and the Supply of Information (1991)Stock Prices and the Supply o…Stock Dividends, Stock Splits, and Signaling (1990)Stock Dividends, Stock Splits…Stock splits, stock prices, and transaction costs (1988)Stock splits, stock prices, a…The Market Reaction to Stock Splits (1987)The Market Reaction to Stock …Stock Splits and Stock Dividends: Why, Who, and When (1987)Stock Splits and Stock Divide…Market rationality and dividend announcements (1985)Market rationality and divide…The valuation effects of stock splits and stock dividends (1984)The valuation effects of stoc…On interpreting security returns during the ex-dividend period (1984)On interpreting security retu…Transaction costs and the small firm effect (1983)Transaction costs and the sma…Transaction costs and the small firm effect (1983)Transaction costs and the sma…Management's View of Stock Splits (1980)Management's View of Stock Sp…Liquidity Changes Following Stock Splits (1979)Liquidity Changes Following S…The Adjustment of Stock Prices to New Information (1969)The Adjustment of Stock Price…The stock market (1963)The stock marketREIT Stock Splits and Market Efficiency (2005)REIT Stock Splits and Market …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings (1994)Transaction Costs and Asset Prices: A Dynamic Equilibrium model (1998)Bank involvement with SMEs: Beyond relationship lending (2010)The Information Content of Annual Earnings Announcements (1968)Volume for Winners and Losers: Taxation and Other Motives for Stock Trading (1986)How Stock Splits Affect Trading: A Microstructure Approach (2001)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)The Effects of Beta, Bid-Ask Spread, Residual Risk, and Size on Stock Returns (1989)Abnormal returns to a fundamental analysis strategy. (1998)Arbitrage risk and the book-to-market anomaly (2003)An Empirical Evaluation of Accounting Income Numbers (1968)Job Market Signaling (1973)What Do Stock Splits Really Signal? (1996)Tick Size, Share Prices, and Stock Splits (1997)INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)Informational Asymmetries, Financial Structure, and Financial Intermediation (1977)The Determination of Financial Structure: The Incentive-Signalling Approach (1977)Dividend Policy, Growth, and the Valuation of Shares (1961)The Behavior of Stock-Market Prices (1965)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Efficient Capital Markets: II (1991)Asset pricing and the bid-ask spread (1986)Economic Forces and the Stock Market (1986)Stock Splits, Tick Size, and Sponsorship (2000)Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)The Determinants of Mutual Fund Performance: A Cross-Country Study (2012)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Introductory Econometrics for Finance (2008)
this work references cited by second hop

References

  • 1969The Adjustment of Stock Prices to New Information3,625 cited
  • 2003The Adjustment of Stock Prices to New Information3,063 cited
  • 1984The valuation effects of stock splits and stock dividends629 cited
  • 1991Stock Prices and the Supply of Information566 cited
  • 1983Transaction costs and the small firm effect529 cited
  • 1987Stock Splits and Stock Dividends: Why, Who, and When457 cited
  • 1983Transaction costs and the small firm effect431 cited
  • 1987The Market Reaction to Stock Splits366 cited
  • 1990Stock Dividends, Stock Splits, and Signaling355 cited
  • 1979Liquidity Changes Following Stock Splits326 cited
  • 1988Stock splits, stock prices, and transaction costs316 cited
  • 1984On interpreting security returns during the ex-dividend period296 cited
  • 1980Management's View of Stock Splits213 cited
  • 1963The stock market156 cited
  • 1992The Effects of Splitting on the Ex: A Microstructure Reconciliation146 cited
  • 1985Market rationality and dividend announcements136 cited

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  • 2005REIT Stock Splits and Market Efficiency26 cited