الفهرس 
CHAPTER ONE: INTRODUCTIONOnly 14 pages are availabe for public view
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Abstract
The study investigates the effect of stock split announcements on stock price and liquidity in the Egyptian exchange during the period 2004 – 2008. The study has two results. First the days immediately preceding and immediately following the announcement entail no significant positive excess return. Furthermore, the study finds the split announcement not significant when aggregating abnormal returns over different periods. Second, regarding the effect of stock split announcement on the stock liquidity, both liquidity proxies, the average trading volume and average daily turnover ratio, showed no improvement poet-split announcement. The represents a departure from results of studies done in developed markets – especially US based – which indicate at least a minimal level of significance on days close to the announcement date.