Risk changes surrounding the actual share repurchases
Actual share repurchases, timing and liquidity.
... market repurchases have become increasingly popular in recent years in a large number of ...while repurchases in the United States accounted for ...market repurchases. The choice between dividends ...
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Actual share repurchases, timing and liquidity
... market repurchases have become popular in recent years in a large number of ...that repurchases in the United States accounted for ...market repurchases (Vermaelen, 1981), the choice between ...
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Market response and firms' operating performance surrounding actual share repurchases: evidence from Hong Kong
... firms’ share price and operating performance surrounding actual share repurchases in the Hong Kong stock ...in share repurchases when their stock are under-valued and ...
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The price impact and timing of actual share repurchases in Norway
... accurate risk ad- justments. While the errors in risk adjustments in estimating abnormal per- formance over a short horizon may have trivial effects, these errors can have economically significant effects ...
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Are dividend changes and share repurchases a good predictor of future changes in earnings?
... Therefore there seems to be no evidence of insider trading before the share repurchase event. An interesting observation made from Figure 4, is that the trend line illustrates a declining tendency of abnormal ...
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Accelerated Share Repurchases
... the risk of changes in its stock price between ASR initiation and ...are repurchases with an associated forward contract that can be settled in cash or shares of the ...
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Dividends, Share Repurchases, and the Substitution Hypothesis
... the actual change in dividends at time t, EARN t, i is the earnings at time t, DIV t⫺1, i is the dividend level at t ⫺ 1, and MV t⫺1, i is the market value of equity at time t ⫺ ...on share ...
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The Market Valuation of Share Repurchases in Europe
... Table 4. Drivers of the market reaction to share repurchase announcements. The dependent variable is CAR i,-1 to +1 , the three-day cumulative abnormal return around the share repurchase announcement. Panel ...
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The market valuation of share repurchases in Europe
... Table 4. Drivers of the market reaction to share repurchase announcements. The dependent variable is CAR i,-1 to +1 , the three-day cumulative abnormal return around the share repurchase announcement. Panel ...
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The wealth effects of share repurchases in Malaysia
... the actual repurchase. The actual repurchase date is the date when the firms report their actual buying back activities to Bursa ...the risk of covering structural breaks due to confounding ...
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Essays on Share Repurchases and Boom-Bust Cycles
... require changes in the return distributions of assets such as a sudden increase in the riskiness of an ...explain changes in assets under management during boom- bust ...
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Market Reaction to Actual Daily Share Repurchases in Greece
... the actual share repurchase ...and share repurchase data In Greece, an open-market SRP must be authorized by the shareholders’ General Meeting, which defines the maximum number of shares that can be ...
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Share repurchases
... A payment of a large dividend reduces the assets of a company and therefore reduces its share price. This may cause the shareholders and the stock market to perceive that the company has done poorly. In order to ...
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Essays on Share Repurchases
... market maker hypothesis). This decrease might also indicate an increased willingness on the part of the specialist to compete for sell trade volume. The trading cost measures for ASR firms presented here are lower than ...
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ESSAYS ON SHARE REPURCHASES
... Data on equity grants is obtained from ISS Incentive Lab, which collects detailed information on executive compensation from annual proxy statements during the pe- riod 1998-2013. They examine the largest 750 firms per ...
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The determinants of share repurchases in Europe
... a share repurchase, suggesting that large and widely held firms are more likely to make a buyback ...market share repurchase announcement by approximately 24% in the ...
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Share Repurchases: A Literature Review
... for share buyback has to open an escrow account and deposit 25% of the amount if the total consideration payable is not exceeding 100 ...to share buyback offer the amount or guarantee kept in the escrow ...
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Investment Opportunities and Share Repurchases
... We achieve this objective by focusing on Real Estate Investment Trusts (REITs). While this is a significant restriction and potentially limits the generality of our results it has a very powerful advantage: it allows us ...
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The role of financial media in share repurchases
... Note. This table reports regression results of an instrumental variable approach. In the first stage, I predict the accumulated volume of news articles during 90 days prior to and ten days following the announcement of ...
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The Market Valuation of Share Repurchases in Europe
... permissions under copyright and certain other rights that a licensor has authority to grant. Use of the licensed material may still be restricted for other reasons, including because others have copyright or other rights ...
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