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dc.contributor.authorSedthaporn Tosiriwatanapong
dc.contributor.authorThananporn Sethjinda
dc.contributor.authorNopphon Tangjitprom
dc.date.accessioned2021-01-05T09:13:49Z
dc.date.available2021-01-05T09:13:49Z
dc.date.issued2020
dc.identifier.citationAU-GSB e-JOURNAL 13, 2 (December 2020), 24-37en_US
dc.identifier.urihttp://repository.au.edu/handle/6623004553/24280
dc.description.abstractAn abnormal return on the stock split is one of the most prominent debates in the finance industry. Positive signaling and optimal trading range hypotheses are underlying principles that are commonly used to describe a positive market reaction to the stocksplit. This research paper focuses specifically on the market’s reactions by the announcement date of the stock split, applying firm size and price range to explore insightful connections. The samples are listed companies in the Stock Exchange of Thailand(MAI excluded) with a stock split from January 1, 2009, to December 31, 2018, aiming to capture data in all economic cycles. To examine positive abnormal returns around announcement date, the event-study-methodology is applied. The study indicates that average abnormal return (AAR) and cumulative average abnormal return (CAAR) are significantly positive during the announcement. Applying firm size in the study, the market tends to react more positively to small-size firms, likewise, low-price. The pieces ofevidence indicated that stocks responded more positively by reason of consciously or subconsciously anticipation to post-splits. The investors are able to apply the rationales and logic behind this corporate action to distinguish between fundamental changes and expectations for their investment decisions in financial markets.en_US
dc.format.extent14 pagesen_US
dc.format.mimetypeapplication/pdfen_US
dc.language.isoengen_US
dc.publisherAssumption University Pressen_US
dc.rightsThis work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.en_US
dc.subjectStock splitsen_US
dc.subjectAverage abnormal returnen_US
dc.subjectCumulative average abnormal returnen_US
dc.subjectEvent studyen_US
dc.subjectAnnouncement dateen_US
dc.subject.otherAU-GSB e-Journalen_US
dc.subject.otherAU-GSB e-Journal -- 2020en_US
dc.titleAbnormal return on stock split-revisiting the evidence of Thailand during 2009-2018en_US
dc.typeTexten_US
dc.rights.holderAssumption Universityen_US
mods.genreJournal Articleen_US
au.link.externalLink[Full Text] (http://www.assumptionjournal.au.edu/index.php/AU-GSB/article/view/5222/2903)


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