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FINANCIAL ECONOMICS

Low price anchors in equity market

Article: 2152937 | Received 14 Mar 2022, Accepted 24 Nov 2022, Published online: 04 Dec 2022

Figures & data

Table 1. Descriptive statistics

Figure 1: Fractional polynomial relationship between post-split price and changes in individual ownership post split

Figure 1: Fractional polynomial relationship between post-split price and changes in individual ownership post split

Table 2. Correlation matrix

Table 3. Univariate analysis: split ratios and changes in individual holdings

Table 4. Univariate analysis: post-split ranges and changes in individual holdings

Table 5. Linear regression model (with robust standard errors)—effect of split ratios on individual ownership

Table 6. Linear regression model (robust standard errors)—effect of PSPR on individual ownership and institutional ownership

Table 7. Linear regression (with robust standard errors) estimates for sub-sample (bullish and bearish period)