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An analysis of changes in liquidity around share splits
Bibliography: pages [91]-95.
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| Main Author: | |
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
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College of Accounting
2016
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| _version_ | 1867613208078974976 |
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| access_status_str | Open Access |
| author | Smith, Brian Ashley |
| author2 | Uliana, Enrico |
| author_browse | Smith, Brian Ashley Uliana, Enrico |
| author_facet | Uliana, Enrico Smith, Brian Ashley |
| author_sort | Smith, Brian Ashley |
| collection | Thesis |
| description | Bibliography: pages [91]-95. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/17535 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:32:29.432Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2016 |
| publishDateRange | 2016 |
| publishDateSort | 2016 |
| publisher | College of Accounting |
| publisherStr | College of Accounting |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/17535 An analysis of changes in liquidity around share splits Smith, Brian Ashley Uliana, Enrico Accounting Bibliography: pages [91]-95. Surveys of U.S. market participants reveal a belief that liquidity improves following a share split. Contrary to this, empirical studies on U.S. markets generally conclude that liquidity worsens. These contradictory views have as yet not been reconciled. Furthermore, there is little evidence as to the charge of liquidity on the Johannesburg Stock Exchange ("the JSE"). The primary objective of this study is to understand how liquidity, as measured by trading volumes, changes around a share split on the JSE. The study also seeks to gain a more precise understanding of the nature of any change in liquidity in order that it may be related to the effect that a split has on volatility and returns. Twenty-three share splits were selected from the period between December 1990 and June 1996. These splits were screened to ensure that no contemporaneous events were present which may have influenced the results. Five study periods were then defined around each split. 2016-03-07T04:13:18Z 2016-03-07T04:13:18Z 1997 Master Thesis Masters MCom http://hdl.handle.net/11427/17535 eng application/pdf College of Accounting Faculty of Commerce University of Cape Town |
| spellingShingle | Accounting Smith, Brian Ashley An analysis of changes in liquidity around share splits |
| thesis_degree_str | Master's |
| title | An analysis of changes in liquidity around share splits |
| title_full | An analysis of changes in liquidity around share splits |
| title_fullStr | An analysis of changes in liquidity around share splits |
| title_full_unstemmed | An analysis of changes in liquidity around share splits |
| title_short | An analysis of changes in liquidity around share splits |
| title_sort | analysis of changes in liquidity around share splits |
| topic | Accounting |
| url | http://hdl.handle.net/11427/17535 |
| work_keys_str_mv | AT smithbrianashley ananalysisofchangesinliquidityaroundsharesplits AT smithbrianashley analysisofchangesinliquidityaroundsharesplits |