haku: @author Singh, A. / yhteensä: 14
viite: 10 / 14
| Tekijä: | Singh, A. |
| Otsikko: | Liquidity changes associated with open market repurchases |
| Lehti: | Financial Management
1994 : SPRING, VOL. 23:1, p. 47-55 |
| Asiasana: | LIQUIDITY CHANGE MARKETING |
| Kieli: | eng |
| Tiivistelmä: | Recent studies suggest that firms buy back shares when their common stock is substantially undervalued. The authors also find that open-market repurchase programs are initiated following a period of steep decline in stock prices. The announcements are associated with significantly positive average stock price reactions. It appears that managers initiate repurchase programs to shore up declining investor confidence. This may be a partial explanation of why open market repurchase programs are observed less frequently than cash dividends. |
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