Overseas on-market share buybacks are buybacks by domestic firms conducted wholly or partly on a foreign exchange. Compared with a 2.3 percent average abnormal market response on announcement for domestic buybacks, we find a significantly lower 0.7 percent response for overseas buybacks....

We use the high disclosure environment for on-market buybacks in Australia to investigate whether detailed disclosure is valuable. We find that company type, buyback duration, and management motivation are all valuable signalling elements in the announcement event. These variables, which are not...