• 1 Introduction
  • 2 Hypotheses
  • 2.1 Impact of share repurchase announcements on stock prices
  • 2.2 Taxation of shareholders
  • 2.3 Alternative measures for tax effects
  • 3 Sample and data description
  • 3.1 Data base
  • 3.2 Selection criteria
  • 3.3 Methodology
  • 4 Results
  • 4.1 Descriptive Statistics
  • 4.2 Univariate statistics
  • 4.3 Multivariate Statistics
  • 5 Conclusion
  • Appendix
  • References