Share repurchase regulations: Do firms play by the rules?
نویسندگان
چکیده
منابع مشابه
Why do firms repurchase stock?
1 In this paper, I investigate the relation between stock repurchases and distribution, investment, capital structure, corporate control, and compensation policies over the 1977 to 1996 period. I allow the significance of each motive to change over time to account for adjustments in the percentage of firms influenced by each motive. I find that, throughout the sample period, firms repurchase st...
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Empirically, a price increase accompanies the announcement of an open-market stock repurchase program, even though the announcement is not a commitment. In fact, for many announced programs, no shares are ever actually repurchased. This paper explores this puzzle. In the single-firm-type version of the model, the option a firm grants itself by announcing a program does not generate announcement...
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ژورنال
عنوان ژورنال: International Review of Law and Economics
سال: 2009
ISSN: 0144-8188
DOI: 10.1016/j.irle.2008.12.002