This paper empirically investigates which event can affect stock pricing through equity repurchases, the announcement of board meetings, the approval by general meetings of stockholders, or the incident of actual purchases, thereby clarifying the motivation behind equity repurchases. In...

Exploiting dramatic changes in individual corporate behavior as well as macroeconomic environment for the period between 1982 and 2005, this paper empirically investigates the determinants of corporate cash holdings using the panel data of the companies listed at the three major stock exchanges....