Stock Splits: Tests of the Earnings Signaling and Attention Directing Hypotheses Using Analyst Forecasts and Revisions
The major findings of this study are: (1) earnings performance of splitting firms is favorable relative to preevent longterm analyst (Value Line) forecasts; (2) analysts significantly revise earnings forecasts upward in response to stock split announcements; and (3) in the case of stock split announ...
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| Veröffentlicht in: | Journal of accounting, auditing & finance auditing & finance, 1994-07, Vol.9 (3), p.411-422 |
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| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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