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How Much Does Nominal Share Price Matter?
https://iuj.repo.nii.ac.jp/records/958
https://iuj.repo.nii.ac.jp/records/958551a29a5-f33d-40f2-885a-526928e4bd18
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
EMS_2021_01 (573.4 kB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2021-02-22 | |||||
| タイトル | ||||||
| タイトル | How Much Does Nominal Share Price Matter? | |||||
| タイトル | ||||||
| タイトル | How Much Does Nominal Share Price Matter? | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Price Risk | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Momentum Crash | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Stock Split/Dividend | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Price Ris | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Momentum Crash | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Stock Split/Dividend | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
| 資源タイプ | departmental bulletin paper | |||||
| 著者 |
Chuang, Hongwei
× Chuang, Hongwei× Hongwei, Chuang |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | The paper examines the relation between nominal share price and price momentum, explicitly controlling for nominal share price levels. The results show that very high/low nominal share price stocks lack price momentum and utilize more systemic risk which remains even controlling for stock splits. While splitting a stock allows firm managers to keep the nominal share price constant, thereby increasing firm value and attracting more investors, it also increases the likelihood of uninformed trading by those with limited budgets and risk share capacity. As a result, splitting a stock causes stock information to diffuse more slowly, leading to higher price momentum. | |||||
| 書誌情報 |
Economics & Management Series en : Economics & Management Series 発行日 2021-02 |
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