Open Market Stock Repurchase Signaling - This paper develops a signaling model of open market share repurchases which explains the existence of a signaling equilibrium. It provides two implications that are new to signaling: The market's valuation increases with the riskiness of the firm's earnings and also increases with the prerepurchase level of the entrepreneur's stock holdings
| Year of publication: |
1999
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| Authors: | McNally, William J. |
| Published in: |
Financial management. - Malden, Mass. [u.a.] : Wiley-Blackwell, ISSN 0046-3892, ZDB-ID 1860343. - Vol. 28.1999, 2, p. 55-67
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