This paper uses event methodology to examine the impact of common stock repurchases on the repurchasing firm's common stock returns, including examination of various subsamples to test the effects of size and purpose of repurchase. Although the market reacts positively to general repurchase announcements, it reacts negatively to those repurchases used to fend off takeover attempts and does not react at all to stock repurchases for employee stock option plan purposes. Copyright 1989 by MIT Press.
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Article provided by Eastern Finance Association in its journal The Financial Review.
Volume (Year): 24 (1989) Issue (Month): 1 (February) Pages: 93-107 Download reference. The following formats are available: HTML
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