Stock dividends and capital market efficiency [in the Philippines].
1979
Evangelista F.U.
The analysis has shown that the rates of return of a split security tend to be higher than those of the market as a whole during the months surrounding the split. However, this behavior could not be safely attributed to the informational content of the splitting process, although previous experiences point to such a possibility. The fact that the average residuals were found to respond quite sensitively to the dividend performance of the split securities can only strengthen this hypothesis. It is thus suggested that a more extended period of time should be considered when making subsequent studies of this nature.
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Эту запись предоставил Wolters Kluwer