A stock split has no effect on the par value of a stock.

Question

Quizplus · Accepted Answer

Tests examining the impact of such events as stock splits and stock dividends, corporate announcements, and changes in accounting policy indicate that the market is generally efficient in a semi-strong sense. For example, a study by Fama, Fisher, Jensen, and Roll indicated that almost all of the market impact of a stock split occurs before a public announcement. There is little to be gained from acting on the announcement.

A Stock Split Has No Effect on the Par Value