search query: @indexterm Stock repurchases / total: 19
reference: 9 / 19
| Author: | Jong, A. de Dijk, R. van Veld, C. |
| Title: | The dividend and share repurchase policies of Canadian firms: empirical evidence based on an alternative research design |
| Journal: | International Review of Financial Analysis
2003 : VOL. 12:4, p. 349-377 |
| Index terms: | Dividends Logit models Stock repurchases Canada |
| Language: | eng |
| Abstract: | Dividend and share repurchase policies of Canadian companies are empirically investigated. The analysis contains two features that are uncommon in finance, while they are encountered in other fields of science. First, standard, simultaneous and nested logit models are used. Alternative descriptions of the behaviour of decision makers are tested by examining different model specifications. Second, questionnaire data on company characteristics is used. A questionnaire was sent to the 500 largest nonfinancial Canadian companies listed on the Toronto Stock Exchange, and 191 of the responses were usable. The results are consistent with a structure in which the compny first decides whether it wants to pay out cash to its shareholders or not. |
SCIMA