Share buybacks have become a popular way for companies to return capital to shareholders. However, there is an ongoing debate regarding the impact of share buybacks on the performance and shareholder value. This paper starts by examining the literature on share buybacks and aims at testing the...

Corporate governance represents a complex concept, being an assembly of mechanisms used to set order into company leaders’ decisions. The rules of corporate governance are the ones keeping the score between the economic entity’s leaders and the third parties who invest their resources in the...

We investigate the shareholder wealth effects of 233 joint venture announcements of Dutch public companies in the period 1987 till 1998. The research shows that, on average, establishing joint ventures has a positive effect on the market value of Dutch companies. Using the strategic...

2002 was a bad year: the shareholder value destruction of the companies in the S&P 500 was $3.3 trillion. In 2002 only 16% of the companies created value (80 companies created value and 420 companies destroyed value). The percentage of value creators was 35%, 54%, 47% and 53% for 2001, 2000,...