Good News and Bad News about Share Repurchases
نویسندگان
چکیده
منابع مشابه
Good News and Bad News about Share Repurchases*
We estimate the cross-sectional relationship between open market repurchases and accounting data for a large sample of dividend-paying and non-dividend-paying firms over a twelve year period (1984-95). Consistent with the hypothesis that firms use open market repurchases to reduce the agency costs of free cash flow, we find that repurchases are positively related to proxies for free cash flow a...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1998
ISSN: 1556-5068
DOI: 10.2139/ssrn.113268