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Corporate action
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<p> A corporate action is an event initiated by a <a href="/facts/Public_company/tnJQvSdR">public company</a> that brings or could bring an actual change to the debt securities—<a href="/facts/Share_capital/JHuhfhaG">equity</a> or <a href="/facts/Debt/VDKsvv1q">debt</a>—issued by the company. Corporate actions are typically agreed upon by a company's <a href="/facts/Board_of_directors/CsTJqgeR">board of directors</a> and authorized by the <a href="/facts/Shareholder/LjuL2KPt">shareholders</a>. For some events, shareholders or bondholders are permitted to vote on the event. Examples of corporate actions include <a href="/facts/Stock_split/c3TPYcsd">stock splits</a>, <a href="/facts/Dividend/Na89kYjp">dividends</a>, <a href="/facts/Mergers_and_acquisitions/YfczSf3M">mergers and acquisitions</a>, <a href="/facts/Rights_issue/ze8zqMDw">rights issues</a>, and <a href="/facts/Corporate_spin-off/AAdmMr3u">spin-offs</a>. </p><p>Some corporate actions such as a <a href="/facts/Dividend/Na89kYjp">dividend</a> (for equity securities) or <a href="/facts/Bond_(finance)/qlmpLj0k">coupon</a> payment (for debt securities) may have a direct financial impact on the <a href="/facts/Shareholder/LjuL2KPt">shareholders</a> or bondholders; another example is a call (early redemption) of a debt security. Other corporate actions such as <a href="/facts/Stock_split/c3TPYcsd">stock split</a> may have an indirect financial impact, as the increased liquidity of shares may cause the price of the stock to decrease. Some corporate actions, such as name changes or <a href="/facts/Ticker_symbol/zaalBdU6">ticker symbol</a> changes to better reflect a company's business focus, have no direct financial impact on the shareholders; securities may be listed under a different security identifier (e.g. <a href="/facts/International_Securities_Identification_Number/IS1YI768">ISIN</a>, <a href="/facts/CUSIP/sdv371eS">CUSIP</a>, <a href="/facts/SEDOL/FwThREKI">Sedol</a>) however. For example, "Apple Computers" changed its name to <a href="/facts/Apple_Inc./oTJYta3k">Apple Inc.</a> </p>