Chen, Tai-Yuan; Kao, Lie-Jane; Lin, Hsing-Yu - In: The International Journal of Business and Finance Research 5 (2011) 2, pp. 21-33
This paper examines the long-term wealth effect of 948 share repurchase announcements in the Taiwan market. We also investigate what factors determine the wealth effect of share repurchases. Our findings show that share repurchases induce positive buy-and-hold abnormal returns during the...