Author: | Ahn, H.-J. Cao, C. Choe, H. |
Title: | Share repurchase tender offers and bid-ask spreads |
Journal: | Journal of Banking and Finance
2001 : MAR, VOL. 25:3, p. 445-478 |
Index terms: | BIDDING MARKET STRUCTURE |
Freeterms: | SHARE REPURCHASE |
Language: | eng |
Abstract: | This paper examines the impact of share repurchase tender offers on the market microstructure. The authors find that there is a temporary reduction in the bid-ask spread, and a temporary increase in volume and quotation depth during the offer period. |
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