Golbe, Devra L.; Nyman, Ingmar - In: Journal of Corporate Finance 20 (2013) C, pp. 22-40
We study how share repurchases affect the ownership stake of outside blockholders in 950 publicly-traded US corporations from 1996 through 2001, using a control function approach to address the possible endogeneity of repurchases. We find that share repurchases tend to make outside ownership...