تجزئة الأسهم وأثرها على سعر السهم وحجم التداول: دراسة تطبيقية على عينة من الشركات اليابانية المدرجة في بورصة طوكيو

Abstract EN

This research aims to study the effect of stock splitting on both the stock price and the trading volume of a sample of Japanese companies listed on the Tokyo stock exchange that carried out the split process according to split ratios (1: 2, 1: 5, 1: 10) and analyze the results.

the research sample consisted of (20) Japanese companies that split their shares on (26 / 9 / 2018) distributed among different economic sectors.

the results of the change in the stock prices and trading volume were tested during (15) days before the split and (15) days after performing a split.

the statistical analyses (one way ANOVA) was used to calculate the arithmetic mean and standard deviations by means of the statistical test (F-TEST) and analyze the comparison between split ratios and the extent of their impact on the stock prices of companies listed in the Tokyo stock exchange and its trading volume.

the authors concludes a number of conclusions, the most important of which is the presence of a noticeable effect of split on the prices of shares, but there is no noticeable effect of split on the trading volume of these shares.