The Journal of Information Technology (정보학연구)
- Volume 9 Issue 3
- /
- Pages.77-89
- /
- 2006
- /
- 1229-3024(pISSN)
A Study about Measurement Model of Long Term Performance in Stock Split
주식분할의 장기성과 측정 모델에 대한 연구
- Shin, Yeon-Soo (Dept. of Business Administration, Joongbu University)
- 신연수 (중부대학교 경영학과)
- Published : 2006.09.25
Abstract
The event study analyzes returns around event date at a time. Event study provides estimation periods and cumulative returns. Stock split announcements are generally associated with positive abnormal returns. It is important to investigate the responses of stocks to new information contained in the announcements of stock splits. So It is important to study the long term performance in the case of Stock Split. This Study forced to two approach method in evaluating the performance, the event time portfolio approach and calendar time portfolio approach. The event time portfolio approach exists the CAR model, BHAR model and WR model. And the calendar time portfolio approach has the 3 factor model, 4 factor model, CTAR model, and RATS model.