We find that the informed trading measures “abnormal O/S ratio”, “abnormal option volume” and “abnormal implied volatility skew” are negatively related to event period abnormal returns for accelerated share repurchases (ASRs) announcements. This effect is stronger for call options...

Objective – This study investigates whether private information newly incorporated into stock price enhances performance in timing share repurchases.Methodology/Technique – Cost saving gained in share repurchases is used a proxy for performance of market-timing in share repurchases and...

Buyback of shares was considered as a good beginning for introducing flexibility in the capital structure. In 1999, the Securities and Exchange Board of India issued guidelines on buyback of shares that are to be followed by the listed companies. Buybacks can be regarded as the late 20th century...

This paper uses an event study methodology to examine the stock price behavior surrounding announcements of stock repurchases made by Taiwan firms from 2000 to 2008. Our analysis shows that stock prices go up in response to stock repurchase announcements. We also find the announcement effects...