[PDF] Top 20 THE INFORMATION CONTENT OF SHARE REPURCHASES – EVIDENCE FROM POLAND

... hidden information, hidden action, moral hazard, and controlling ...by share repurchases. Share repurchase as a tool for distributing cash fl ow, diminishing the cash holding and increasing fi ... See full document

... and information is the most regularly encountered justification for stock repurchases causes signaling hypotheses (Stephens & Weisbach, ...equity repurchases (CNI, 2009; Hyderabad, 2009; ... See full document

... that share repurchase programs can both improve and deteriorate stock ...hand, share repurchases may actually improve stock liquidity by increasing depth on the sell-side of the ...market ... See full document

... of Poland all the mean values of “used ICTs” (except for online surveys) are lower than the mean values of “expected ...to share their knowledge with ...popular information websites, crowdsourcing ... See full document

... come from AC Nielsen and consist of monthly observations of the prices, dollar sales, and revenue market shares of OTC analgesics in the national ...months, from March 2001 to December ...this ... See full document

... Regarding SRP implementations in foreign markets, Brockman and Chung (2001) and Zhang (2005) study the Hong Kong capital market, where firms are required to disclose repurchase details no later than the next trading day. ... See full document

... benefit from the share repurchase program in the short-term by examining insider equity sales around ...benefit from any value increasing ...personally from a value increasing repurchase ... See full document

... and share repurchase during the sample ...and share repurchases, because even a severe event like financial constraints does not give evidence for lower pay-outs and ...reduce ... See full document

... any information asymmetries, and, therefore, its signal carries higher information content as opposed to subsequent ...reduce information asymmetries, did not affect significantly the market ... See full document

... the information conveyed by share repurchases, via the TPO, may not be useful for explaining the variation in next month’s excess returns in either the UK or in ...obtained from univariate ... See full document

... for share repurchases and investigate whether predictive power can be improved when constructing forecasts of UK and French equity ...actual share repurchases are ...of repurchases ... See full document

... private information (Michaely and Womack, ...reduce information asymmetries between firms and stock market ...of information asymmetries are more pronounced for those firms that have higher analyst ... See full document

... In the aftermath of the economic crisis of 2008-09, many public commentators debated over the benefits and harms of the financial sector for the rest of society. The privatization of banks’ profits and the socialization ... See full document

... benefits from using such models, one can point out various ...of share repurchases ...Thus, from the perspective of a potential investor, the ability to predict share repurchases ... See full document

... The initial search of bank data from 2000 to 2013 via Datastream revealed a total of 51 government-owned and private banks. The percentage of government ownership of each of the 51 banks was also provided by ... See full document

... reduces information asymmetry, which leads to better price ...changed from semi-annual to quarterly in the ...on information asymmetry using a sample of Chinese companies listed in SEHK, which is a ... See full document

... Another approach for testing for linear Granger causality was formulated by Toda and Yamamoto (1995). This method has been commonly applied in recent empirical studies (see, for example, Mulas–Granados and Sanz, 2008) ... See full document

... accounting information not only relates to interests of investors and stable development of capital market, but also affects the effective social resources ...accounting information quality is a result of ... See full document

... Bradley, Johnes and Millington (2001) emphasize that schools have multiple outputs, not only exam performance. They apply DEA (Data Envelopment Analysis) to capture this multi-product nature of schools and assume what ... See full document

... Existing evidence on the agency costs of corporate liquidity and their impact on payout policy is ...little evidence of an association with agency ... See full document