Stock Splits, Tick Size, and Sponsorship

By Paul H. Schultz. 2000

282 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/21b1f594ea502054377763a587118017458c4fd0

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Shane A. Corwin
2. Turan G. Bali
3. Juan Carlos Reboredo
4. Yi Tang
5. Yannan Shen
6. José Yagüe
7. J. C. G. Sala
8. Francisco Poveda Fuentes

In Finance

1. Yi Tang
2. Turan G. Bali
3. Yannan Shen
4. Shane A. Corwin
5. Lin Peng
6. Juan Carlos Reboredo
7. José Yagüe
8. J. C. G. Sala

In Strategy and Management

1. Juan Carlos Reboredo
2. José Yagüe
3. J. C. G. Sala
4. Francisco Poveda Fuentes
5. Shane A. Corwin
6. Lin Peng
7. Yi Tang
8. Yannan Shen

Citations in the corpus

• Liquidity Shocks and Stock Market Reactions (2014, background): “We adjust stock returns for delisting in order to avoid survivorship bias (Shumway (1997)).”
• A Simple Way to Estimate Bid-Ask Spreads from Daily High and Low Prices (2012, background): “It provides accurate spread estimates with intraday data if a researcher has trade prices but not quotes (Schultz (2000)).”
• Stock splits, trading continuity, and the cost of equity capital☆ (2009, background): “Thus, for stocks that trade every day, it is possible that stock splits attract more trades (Schultz, 2000; Easley, O’Hara, and Saar, 2001), but that turnover decreases (Copeland, 1979; Lamoureux and Poon, 1987).”
• Price-Based Return Comovement (2009, unknown): “However, Copeland (1979) and Lakonishok and Lev (1987) find that splits have no long-term impact on volume, and Schultz (2000) documents that trading costs tend to increase following splits.”
• Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms (2004, unknown): “The available empirical evidence (e.g., Schultz, 2000) supports this conjecture.”
• Stock split size, signaling and earnings management: Evidence from the Spanish market (2007, background): “The evidence confirms that after a stock split there is an increase in the number of limit orders and their frequency with respect to market orders (Schultz, 2000).”
• How is the market reaction to stock splits? (2003, background): “Angel (1997) and Schultz (2000) argue that a real consequence of a stock split is that the tick size increases relative to the stock’s price, becoming market making more profitable and providing brokers with additional incentives to promote the new Applied Financial Economics ISSN 0960–3107…”