Ex-bonus date stock price adjustment : Australian evidence and analysis

Hamson, Don. (1983). Ex-bonus date stock price adjustment : Australian evidence and analysis Honours Thesis, School of Business, The University of Queensland.

       
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Author Hamson, Don.
Thesis Title Ex-bonus date stock price adjustment : Australian evidence and analysis
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 1983
Thesis type Honours Thesis
Total pages 96
Language eng
Subjects 14 Economics
Formatted abstract This study considers the price adjustment of equity shares going ex-bonus. A theoretical evaluation of ex-bonus price 'adjustment is developed and evidence is documented that no abnormal returns are recorded on ex-dates. This evidence is consistent with accepted theory that the markets are efficient and no value is created by merely increasing the number of equity shares outstanding.

 
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