What Do Stock Splits Really Signal?

Contrarian Investment, Extrapolation, and Risk

1994 • 4,396 citations

The Long‐Run Performance of initial Public Offerings

1991 • 3,447 citations

The New Issues Puzzle

1995 • 3,411 citations

The Adjustment of Stock Prices to New Information

2003 • 3,268 citations

Detecting long-run abnormal stock returns: The empirical power and specification of test statistics

1997 • 2,839 citations

Market underreaction to open market share repurchases

1995 • 1,824 citations

Do Brokerage Analysts' Recommendations Have Investment Value?

1996 • 1,810 citations

The Post‐Merger Performance of Acquiring Firms: A Re‐examination of an Anomaly

1992 • 1,140 citations

Underperformance in long-run stock returns following seasoned equity offerings

1995 • 1,079 citations

Measuring long-horizon security price performance

1997 • 1,071 citations

Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?

1995 • 1,000 citations

The valuation effects of stock splits and stock dividends

1984 • 605 citations

Stock Prices and the Supply of Information

1991 • 584 citations

Stock Splits and Stock Dividends: Why, Who, and When

1987 • 426 citations

Tick Size, Share Prices, and Stock Splits

1997 • 377 citations

The Market Reaction to Stock Splits

1987 • 367 citations

Restructuring through spinoffs

1993 • 360 citations

Stock Dividends, Stock Splits, and Signaling

1990 • 359 citations

Stock splits, stock prices, and transaction costs

1988 • 309 citations

Liquidity Changes Following Stock Splits

1979 • 304 citations

Volatility increases subsequent to stock splits: An empirical aberration

1985 • 267 citations

Sample‐Dependent Results Using Accounting and Market Data: Some Evidence

1986 • 265 citations

The New Finance: The Case Against Efficient Markets

1995 • 262 citations

Management's View of Stock Splits

1980 • 229 citations

Earnings and Stock Splits

2011 • 209 citations

The Effects of Stock Splits on Bid‐Ask Spreads

1990 • 203 citations

The Long‐Run Negative Drift of Post‐Listing Stock Returns

1995 • 194 citations

The Effects of Splitting on the Ex: A Microstructure Reconciliation

1992 • 155 citations

Corporate Governance Through the Proxy Contest: Evidence and Implications

1993 • 152 citations