In this study, we explore the market reaction to the announcement of stock repurchase plans, and the mutual influence between the actual fulfillment rate of stock repurchase plans and the degree of earnings management. From the perspective of earnings management behavior, this paper also...

Do well-conceived stock repurchase plan motives correlate with good stock repurchase plan results? Do ill-conceived stated motives correlate with poor results? KLA-Tencor states it initiated a stock repurchase plan “…to reduce the dilution from KLA-Tencor's employee benefit and incentive...

National Semiconductor states that its stock repurchase program's goal is to contribute to increasing the firm's return on invested capital for the benefit of shareholders and employees. Which measure of return on capital is National watching? A review of four return on capital ratios suggest...

We investigate the impact on trading characteristics of firms when they announce share repurchases using a relatively new buyback method - Accelerated Share Repurchases (ASRs). We find that trading costs decrease and market quality improves following an ASR announcement. The improvement in...

The phenomena of excessive return following stock repurchase programs are well-documented in financial literature. The majority of studies apply to well-developed markets. The aim of this paper is to scrutinize this anomaly on Polish stock exchange in order to develop general conclusions about...

This study investigates the effect share repurchases announcements have on earnings of companies listed on the Johannesburg Stock Exchange over a period of 8 years from 2001 to 2008. The study investigates 27 companies listed in the middle capitalization and large capitalization stocks of the...