Stock split decisions influenced by stock price and liquidity, not EPS.
The study looked at how stock price, stock liquidity, EPS growth, and price earnings ratio affect stock splits in companies listed on the Indonesia Stock Exchange from 2008 to 2013. They found that there were no significant differences in these factors before and after a stock split. However, stock price and stock liquidity did have a significant impact on the decision to split stocks, while EPS growth and price earnings ratio did not.