Stock split market efficiency
REIT Stock Splits and Market Efficiency | SpringerLink
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An analysis of real estate investment trust REIT stock splits is presented.
Evaluation of the initial reaction to split REITs supports efficient market pricing where REITs generate statistically significant positive announcement date returns, no statistically significant record date returns, and muted ex-date returns. In the long-term, split REITs do not consistently out perform benchmark portfolios over one-year, two-year, and three-year periods.
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REITs split subsequent to a substantial run up in stock price and to improve the position of their post split stock price relative to the stock price of the typical REIT. Part of Springer Nature.
Not logged in Not affiliated REIT Stock Splits and Market Efficiency. Original Article First Online: Cite this article as: J Real Estate Finan Econ Underreaction or Market Friction? Department of Finance and Economics Mississippi State University Mississippi State USA 2.
Department of Finance and Economics Mississippi State University Mississippi State USA 3. Department of Accounting and Finance Alabama State University Montgomery USA.
STOCK SPLITS AND THE EFFICIENCY OF THE NIGERIAN STOCK MARKET on JSTOR
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