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Abstract
This research aims to examine and determine the effect of two corporate actions on the stock prices, liquidity changes and price volatility as well as investigating the market efficiency of the Egyptian stock market consequence the changes in market prices as toward the declaration of the corporate events to the public in order to provide investors with a scientific tool to predicate and explain changes in stock prices in response to announced corporate actions and to improve their investment decision-making process. This study investigates the effect of two types of corporate actions; 2Stock Split3 and 2Stock Dividends3 to determine whether they collectively or independently have positive impact on their related stock prices for companies listed on the Egyptian Stock Exchange (EGX), and demonstrates the similarities and dissimilarities between their individual impacts. The researcher has applied the 2Event Study3 approach to measure the impact of the stock splits and stock dividends announcement on the stock prices through measuring the cumulated average abnormal return (CAAR) resulted from particular events to assess its impact on the stock performance around the announcement (-30 to +30) days. According to TERHI (2011), CAAR, as a model of event statistic, is used in event studies to account for potential impact in dating the event or uncertainty of the speed of the corporate event’s which effect on security prices