Indian Stock Prices Soar After Bonus Share Announcements
The study looked at how stock prices in India reacted to companies announcing bonus shares. They found that stock prices went up significantly after these announcements. This suggests that bonus share announcements create value for shareholders. The researchers also found support for the idea that these announcements signal good news about the company's future prospects. However, the idea that stocks were undervalued or that investors paid more attention to these announcements was not supported by the data.