Is Share Price Related to Marketability? Evidence from Mutual Fund Share Splits
AbstractStock splits enhance the marketability of mutual fund shares by restoring share prices to a preferred trading range. Mutual funds that split their shares experience significant increases in net assets and shareholders.
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Bibliographic InfoArticle provided by Financial Management Association in its journal Financial Management.
Volume (Year): 28 (1999)
Issue (Month): 3 (Fall)
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Web page: http://www.fma.org/
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Other versions of this item:
- Chitru S. Fernando & Srinivasan Krishnamurthy & Paul A. Spindt, 1999. "Is Share Price Related to Marketability? Evidence from Mutual Fund Share Splits," Center for Financial Institutions Working Papers 97-06, Wharton School Center for Financial Institutions, University of Pennsylvania.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michael S. Rozeff, 1998. "Stock Splits: Evidence from Mutual Funds," Journal of Finance, American Finance Association, vol. 53(1), pages 335-349, 02.
- Fernando, Chitru S. & Krishnamurthy, Srinivasan & Spindt, Paul A., 2004. "Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms," Journal of Financial Markets, Elsevier, vol. 7(4), pages 377-403, October.
- William C. Weld & Roni Michaely & Richard H. Thaler & Shlomo Benartzi, 2009. "The Nominal Share Price Puzzle," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 121-42, Spring.
- Chitru S. Fernando & Srinivasan Krishnamurthy & Paul A. Spindt, 2002. "Is the Offer Price in IPOs Informative? Underpricing, Ownership Structure, and Performance," Center for Financial Institutions Working Papers 01-33, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Chen, Honghui & Nguyen, Hoang Huy & Singal, Vijay, 2011. "The information content of stock splits," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2454-2467, September.
- Lin, Ji-Chai & Singh, Ajai K. & Yu, Wen, 2009. "Stock splits, trading continuity, and the cost of equity capital," Journal of Financial Economics, Elsevier, vol. 93(3), pages 474-489, September.
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