Balachandran, Balasingham; Chalmers, Keryn; Haman, Janto - In: Accounting and Finance 48 (2008) 1, pp. 25-49
Chan "et al". (2006b) suggest that managers might announce a share buyback to manipulate investors' perceptions and capitalize on the positive price reaction usually associated with the announcement. The incentive to do so is greater when managers have exercisable options. Prior studies document...
