Do stock splits matter for returns, volatility, and liquidity? New evidence from Borsa Istanbul

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dc.authorid0000-0002-1244-6734
dc.contributor.authorGümüş, Nihat
dc.contributor.authorGümüş, Nihat
dc.contributor.authorGümüş, Nihat
dc.contributor.authorGümüş Çağlayan, Ayşe
dc.contributor.otherYönetim Bilimleri Fakültesi, İşletme Bölümü
dc.contributor.otherYönetim Bilimleri Fakültesi, İşletme Bölümü
dc.date.accessioned2021-06-21T08:34:19Z
dc.date.available2021-06-21T08:34:19Z
dc.date.issued2021
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İşletme Bölümü
dc.description.abstractThe purpose of this study is to investigate the impact of stock splits on the return, riskiness, and liquidity of stocks. Utilizing a sample of 94 stock splits taken place between 2010 and 2019 at Borsa Istanbul, the study analyzes the daily abnormal returns, change in volatility, and changes in volume around the stock split announcement and execution dates. The results display significant positive abnormal returns around the announcement date but not significant abnormal returns around the execution. The volatility and liquidity of stocks increase significantly around both announcement and execution dates. The findings are in line with the positive signaling, and liquidity hypotheses of stock split and with most of the observations reported in the empirical literature. The new evidence provided points out the lack of semi-strong form of market efficiency at Borsa Istanbul as far as the stock splits are considered.
dc.identifier.citationGümüş, N. ve Gümüş Çağlayan, A. (2021). International Journal of Research in Business and Social Science (IJRBS), 10(4), 467-478.
dc.identifier.doi10.20525/ijrbs.v10i4.1250
dc.identifier.endpage478
dc.identifier.issn2147-4478
dc.identifier.issue4
dc.identifier.startpage467
dc.identifier.urihttps://doi.org/10.20525/ijrbs.v10i4.1250
dc.identifier.urihttps://hdl.handle.net/20.500.12154/1506
dc.identifier.volume10
dc.institutionauthorGümüş, Nihat
dc.institutionauthorid0000-0002-1244-6734
dc.language.isoen
dc.publisherSSBFNET
dc.relation.ihupublicationcategory235
dc.relation.ispartofInternational Journal of Research in Business and Social Science (IJRBS)
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectStock Splits
dc.subjectBorsa Istanbul
dc.subjectReturn
dc.subjectRisk
dc.subjectLiquidity
dc.titleDo stock splits matter for returns, volatility, and liquidity? New evidence from Borsa Istanbul
dc.typeArticle
dspace.entity.typePublication
relation.isAuthorOfPublication9c51bbd6-3b36-41ff-b540-414d48f26ed1
relation.isAuthorOfPublication.latestForDiscovery9c51bbd6-3b36-41ff-b540-414d48f26ed1
relation.isOrgUnitOfPublicationc9253b76-6094-4836-ac99-2fcd5392d68f
relation.isOrgUnitOfPublication.latestForDiscoveryc9253b76-6094-4836-ac99-2fcd5392d68f

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