Another January effect—evidence from stock split announcements

Beladi, Hamid, Chao, Chi Chur and Hu, May 2016, Another January effect—evidence from stock split announcements, International review of financial analysis, vol. 44, pp. 123-138, doi: 10.1016/j.irfa.2016.01.007.

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Title Another January effect—evidence from stock split announcements
Author(s) Beladi, Hamid
Chao, Chi ChurORCID iD for Chao, Chi Chur
Hu, MayORCID iD for Hu, May
Journal name International review of financial analysis
Volume number 44
Start page 123
End page 138
Total pages 16
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2016-03
ISSN 1057-5219
Summary This paper examines whether there is a January effect in the propensity and abnormal returns of stock split announcements. It provides primary evidence in the investigation of using monthly effects to explain the patterns of stock splits. The results show that the January effect exists in the likelihood of the occurrence of share splits and in the associated short-term abnormal returns. We also find that another monthly effect—the Halloween effect—exists in stock split announcements. However, the January effect has a much larger and considerably more significant impact on the probability and returns of these announcements. The results of this paper shed light on why we observe patterns in the announcement of corporate events.
Language eng
DOI 10.1016/j.irfa.2016.01.007
Field of Research 150201 Finance
1502 Banking, Finance And Investment
1501 Accounting, Auditing And Accountability
1801 Law
Socio Economic Objective 900199 Financial Services not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Elsevier
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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