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Further Evidence of the Effect of Stock Splits on the Securities Market, Does a “Wal-Mart Effect” Exist?
Advances in Business Research
View Archive Info| Field | Value | |
| Title |
Further Evidence of the Effect of Stock Splits on the Securities Market, Does a “Wal-Mart Effect” Exist?
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| Creator |
Stunda, Ronald; Valdosta State University
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| Subject |
Business; Accounting; Finance;
Stock Splitl Securities Market; Wal-Mart; |
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| Description |
Recent research has investigated whether or not there is a distinct “Wal-Mart Effect” in the securities market. That is, does Wal-Mart possess an advantage over its competitors in analyzing security prices? A factor associated with this notion centers around the numerous stock splits by Wal-Mart during its corporate life. This study compares Wal-Mart to all other firms in the retail trade industry that have had multiple stock splits. Results of this study show that Wal-Mart still maintains an advantage over its competitors with respect to information content of a wealth measure. When comparing firms with multiple stock splits to all other firms in the same industry, firms with multiple stock splits have a similar advantage. These findings establish a basis for concluding that, on whole, firms that have multiple stock splits over their corporate life are more likely to possess more significant information content of wealth when linked to security prices than firms with fewer or no multiple stock splits.
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| Publisher |
Tarleton State University and the University of Arkansas - Fort Smith
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| Contributor |
—
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| Date |
2011-12-31
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Articles Quantitative/Archival; Empirical; |
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| Format |
application/pdf
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| Identifier |
http://journals.sfu.ca/abr/index.php/abr/article/view/64
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| Source |
Advances in Business Research; Vol 2, No 1 (2011); 203-209
2641-5208 2153-6511 |
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| Language |
eng
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| Relation |
http://journals.sfu.ca/abr/index.php/abr/article/view/64/46
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| Rights |
Authors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
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