Do Share Repurchases Promote Efficient Stock Price?
نویسندگان
چکیده
منابع مشابه
Actual Share Repurchases , Price Efficiency , and the Information Content of Stock Prices ∗
We examine the impact of share repurchases on the information content of stock prices using several measures of price efficiency. The study is based on manually collected data on share repurchases in the United States for the period 2004-2010. We find that share repurchases make prices more efficient. In particular, share repurchases increase the accuracy of the stock price after negative infor...
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This paper focuses on the agency problem derived from the conict of interest between employees and shareholders. I show that if employees are compensated with restricted stock or stock options, shareholders may engage in opportunistic share repurchases. Equityholders have an incentive to buy back stock after employment contracts have been signed because repurchases increase compensation sensit...
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We show that repurchases have not only became an important form of payout for U.S. corporations, but also that firms finance their share repurchases with funds that otherwise would have been used to increase dividends. We find that young firms have a higher propensity to pay cash through repurchases than they did in the past and that repurchases have become the preferred form of initiating a ca...
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In the efficient market framework, it seems difficult to explain why a firm would actually buy back its outstanding shares after the stock price goes up in response to an open-market repurchase announcement. We introduce the subject of market inefficiency in a way similar to the explanation of Shleifer and Vishny (1990, 1997) and reexamine corporate open-market repurchase strategy and stock pri...
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Stock Exchange Share Price is very hard to predict since there are no significant rules to estimate or predict that. Stock price prediction is one of the emerging field of research and many methods like technical analysis, statistical analysis, time series analysis etc are used for this purpose. Artificial Neural Network is a popular technique for the stock price prediction. Here we use Multila...
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ژورنال
عنوان ژورنال: Turkish Journal of Computer and Mathematics Education (TURCOMAT)
سال: 2021
ISSN: 1309-4653
DOI: 10.17762/turcomat.v12i3.1246