Information Content of Programs and Operation Encoding
نویسندگان
چکیده
منابع مشابه
The Information Content of Share Repurchase Programs
Contrary to the implications of many payout theories, we find that announcements of open-market share repurchase programs are not followed by an increase in operating performance. However, we find that repurchasing firms experience a significant reduction in systematic risk and cost of capital relative to non-repurchasing firms. Further, consistent with the free cash-flow hypothesis, we find th...
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ژورنال
عنوان ژورنال: Journal of the ACM
سال: 1977
ISSN: 0004-5411,1557-735X
DOI: 10.1145/322003.322012