Purpose: The purpose of this paper is to examine the short-term and long-term wealth effects of two share repurchase motivations. Design/methodology/approach: The authors use a multi-period numerical model and a Monte Carlo simulation. The Monte Carlo simulation introduces uncertainty into...

An investor saving for retirement attempts to allocate as sets in a manner that provides enough savings to produce a secure post retirement income. Falling short of the desired saving level has a large negative impact on retirement income and is a major concern for the investor. We empirically...