search query: @indexterm Tender offers / total: 102
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| Author: | Louis, H. White, H. |
| Title: | Do managers intentionally use repurchase tender offers to signal private information? Evidence from firm financial reporting behavior |
| Journal: | Journal of Financial Economics
2007 : JUL, VOL. 85:1, p. 205-233 |
| Index terms: | financial reporting managers tender offers signaling auctions Netherlands |
| Language: | eng |
| Abstract: | Using a firm's financial reporting behaviour to conclude managerial intent, there is found evidence suggesting that managers intentionally use fixed-price repurchase (here as: rep./reps.) tender offers (as: t-offs.) to signal undervaluation (here as: u-v). However, in contrast there is found no evidence that managers use Dutch-auction (as: D-an.) t-offs. to signal u-v. Instead, firms engaging in D-an. reps. act as if they are trying to deflate their earnings prior to the reps. to further reduce the repurchasing price. |
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