Using a unique, hand-collected data set of actual daily share repurchases from the Athens Stock Exchange, we examine the stock market reaction around the disclosure date of actual share repurchases, the factors that affect the size of that reaction, and the motives behind share acquisitions. We...

Using UK open market repurchases, we reject the market underreaction hypothesis and the market overreaction hypothesis proposed by (Ikenberry, Lakonishok and Vermaelen 1995) and (Peyer and Vermaelen 2009), respectively. The evidence supports that the UK market reacts slowly to actual repurchases...

This paper examines the market response surrounding the share buyback announcements of large capitalised Indian companies from years 2010 to 2016 covering 73 firms. T-test was carried out to identify the abnormal return in the range before and after 10 days from share buyback announcements. The...

We characterize the effect of short selling costs on interactions between informed and uninformed speculators, showing how this dynamic impacts corporate decisions. Manipulation coexists with informed trading at low shorting costs, reducing price informativeness and firm investment. Manipulation...

This paper examines the reaction of market share prices on announcement of share buyback, as a tool of restructuring of shares and the regulation of buyback practices in India. Companies announce buyback of shares either to increase the value of issued shares or to eliminate any fear by...

This study examines management's response to the change in accounting for stock option-based compensation imposed by SFAS No. 123R, whose implementation is expected to reduce reported income. To cope with this impact, management may be motivated to decrease the use of stock options as part of...

The positive stock price reaction to stock buyback announcements reported in many previous studies is commonly interpreted as a signal that the firm's future profitability will rise, or that the firm is decreasing its agency costs by dispersing free cash flow, or that the firm is increasing its...