Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/217926 
Year of Publication: 
1986
Citation: 
[Journal:] South African Journal of Business Management [ISSN:] 2078-5976 [Volume:] 17 [Issue:] 2 [Publisher:] African Online Scientific Information Systems (AOSIS) [Place:] Cape Town [Year:] 1986 [Pages:] 87-92
Publisher: 
African Online Scientific Information Systems (AOSIS), Cape Town
Abstract: 
The objective of this study was to carry out an investigation into the excess return behaviour of companies on the Johannesburg Stock Exchange which split their shares in the period 1972 - 1984. The concept of an event study was used in the analysis. Positive average residuals were observed in the months leading up to the split. In the month of the split large average excess returns were displayed. However, no long-term favourable effects on share price were found. Splits appeared to be a reaction to a sustained period of above-average returns rather than the cause of such returns. The splitting of a company's shares does not appear to influence the share's rand value traded.
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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