Advanced Search
MyIDEAS: Login to save this article or follow this journal

Errors in estimating share repurchases

Contents:

Author Info

  • Banyi, Monica L.
  • Dyl, Edward A.
  • Kahle, Kathleen M.
Registered author(s):

    Abstract

    No abstract is available for this item.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.sciencedirect.com/science/article/B6VFK-4SWWT2Y-1/2/15163e46e50d55d512d96db6a3c3ef59
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Corporate Finance.

    Volume (Year): 14 (2008)
    Issue (Month): 4 (September)
    Pages: 460-474

    as in new window
    Handle: RePEc:eee:corfin:v:14:y:2008:i:4:p:460-474

    Contact details of provider:
    Web page: http://www.elsevier.com/locate/jcorpfin

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Eugene F. Fama & Kenneth R. French, 2001. "Disappearing Dividends: Changing Firm Characteristics Or Lower Propensity To Pay?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 14(1), pages 67-79.
    2. Daniel A. Bens, 2002. "Real Investment Implications of Employee Stock Option Exercises," Journal of Accounting Research, Wiley Blackwell, vol. 40(2), pages 359-393, 05.
    3. David Ikenberry & Josef Lakonishok & Theo Vermaelen, 1994. "Market Underreaction to Open Market Share Repurchases," NBER Working Papers 4965, National Bureau of Economic Research, Inc.
    4. Lie, Erik, 2005. "Operating performance following open market share repurchase announcements," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 39(3), pages 411-436, September.
    5. Murali Jagannathan & Clifford Stephens, 2003. "Motives for Multiple Open-Market Repurchase Programs," Financial Management, Financial Management Association, Financial Management Association, vol. 32(2), Summer.
    6. Dittmar, Amy K, 2000. "Why Do Firms Repurchase Stock?," The Journal of Business, University of Chicago Press, vol. 73(3), pages 331-55, July.
    7. Fenn, George W. & Liang, Nellie, 2001. "Corporate payout policy and managerial stock incentives," Journal of Financial Economics, Elsevier, Elsevier, vol. 60(1), pages 45-72, April.
    8. Bagwell, Laurie Simon & Shoven, John B, 1989. "Cash Distributions to Shareholders," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 129-40, Summer.
    9. Gustavo Grullon & Roni Michaely, 2004. "The Information Content of Share Repurchase Programs," Journal of Finance, American Finance Association, vol. 59(2), pages 651-680, 04.
    10. Massa, Massimo & Rehman, Zahid & Vermaelen, Theo, 2007. "Mimicking repurchases," Journal of Financial Economics, Elsevier, Elsevier, vol. 84(3), pages 624-666, June.
    11. Gustavo Grullon & Roni Michaely, 2002. "Dividends, Share Repurchases, and the Substitution Hypothesis," Journal of Finance, American Finance Association, vol. 57(4), pages 1649-1684, 08.
    12. Jagannathan, Murali & Stephens, Clifford P. & Weisbach, Michael S., 2000. "Financial flexibility and the choice between dividends and stock repurchases," Journal of Financial Economics, Elsevier, Elsevier, vol. 57(3), pages 355-384, September.
    13. DeAngelo, Harry & DeAngelo, Linda & Skinner, Douglas J., 2000. "Special dividends and the evolution of dividend signaling," Journal of Financial Economics, Elsevier, Elsevier, vol. 57(3), pages 309-354, September.
    14. Clifford P. Stephens & Michael S. Weisbach, 1998. "Actual Share Reacquisitions in Open-Market Repurchase Programs," Journal of Finance, American Finance Association, vol. 53(1), pages 313-333, 02.
    15. Matthew T. Billett & Hui Xue, 2007. "The Takeover Deterrent Effect of Open Market Share Repurchases," Journal of Finance, American Finance Association, vol. 62(4), pages 1827-1850, 08.
    16. Chan, Konan & Ikenberry, David & Lee, Inmoo, 2004. "Economic Sources of Gain in Stock Repurchases," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(03), pages 461-479, September.
    17. Kahle, Kathleen M., 2002. "When a buyback isn't a buyback: open market repurchases and employee options," Journal of Financial Economics, Elsevier, Elsevier, vol. 63(2), pages 235-261, February.
    18. Guojin Gong & Henock Louis & Amy X. Sun, 2008. "Earnings Management and Firm Performance Following Open-Market Repurchases," Journal of Finance, American Finance Association, vol. 63(2), pages 947-986, 04.
    19. Denis, David J, 1990. " Defensive Changes in Corporate Payout Policy: Share Repurchases and Special Dividends," Journal of Finance, American Finance Association, vol. 45(5), pages 1433-56, December.
    20. Vermaelen, Theo, 1981. "Common stock repurchases and market signalling : An empirical study," Journal of Financial Economics, Elsevier, Elsevier, vol. 9(2), pages 139-183, June.
    21. Barclay, Michael J. & Smith, Clifford Jr., 1988. "Corporate payout policy : Cash Dividends versus Open-Market Repurchases," Journal of Financial Economics, Elsevier, Elsevier, vol. 22(1), pages 61-82, October.
    22. Bens, Daniel A. & Nagar, Venky & Skinner, Douglas J. & Wong, M. H. Franco, 2003. "Employee stock options, EPS dilution, and stock repurchases," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 36(1-3), pages 51-90, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Ben-Rephael, Azi & Oded, Jacob & Wohl, Avi, 2011. "Do firms buy their stock at bargain prices? Evidence from actual stock repurchase disclosure," CFS Working Paper Series 2011/17, Center for Financial Studies (CFS).
    2. Fei Leng & Kevin Zhao, 2014. "Insider trading around open-market share repurchases," Journal of Economics and Finance, Springer, vol. 38(3), pages 461-491, July.
    3. Chang, Shao-Chi & Chen, Sheng-Syan & Chen, Li-Yu, 2010. "Does prior record matter in the wealth effect of open-market share repurchase announcements?," International Review of Economics & Finance, Elsevier, vol. 19(3), pages 427-435, June.
    4. Oded, Jacob, 2011. "Stock repurchases: How firms choose between a self tender offer and an open-market program," Journal of Banking & Finance, Elsevier, vol. 35(12), pages 3174-3187.
    5. Alok Bhargava, 2013. "Executive compensation, share repurchases and investment expenditures: econometric evidence from US firms," Review of Quantitative Finance and Accounting, Springer, vol. 40(3), pages 403-422, April.
    6. Andriosopoulos, Dimitris & Andriosopoulos, Kostas & Hoque, Hafiz, 2013. "Information disclosure, CEO overconfidence, and share buyback completion rates," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5486-5499.
    7. Kulchania, Manoj, 2013. "Catering driven substitution in corporate payouts," Journal of Corporate Finance, Elsevier, Elsevier, vol. 21(C), pages 180-195.
    8. Foued Hamouda & Mounira Ben Arab, 2013. "Board of directors and insider trading with share repurchase programs," Journal of Management and Governance, Springer, vol. 17(2), pages 405-418, May.
    9. De Cesari, Amedeo & Espenlaub, Susanne & Khurshed, Arif & Simkovic, Michael, 2012. "The effects of ownership and stock liquidity on the timing of repurchase transactions," Journal of Corporate Finance, Elsevier, Elsevier, vol. 18(5), pages 1023-1050.
    10. Lin, Ji-Chai & Stephens, Clifford P. & Wu, YiLin, 2014. "Limited attention, share repurchases, and takeover risk," Journal of Banking & Finance, Elsevier, vol. 42(C), pages 283-301.
    11. Amoako-Adu, Ben & Baulkaran, Vishaal & Smith, Brian F., 2014. "Analysis of dividend policy of dual and single class U.S corporations," Journal of Economics and Business, Elsevier, Elsevier, vol. 72(C), pages 1-29.
    12. Boudry, Walter I. & Kallberg, Jarl G. & Liu, Crocker H., 2013. "Investment opportunities and share repurchases," Journal of Corporate Finance, Elsevier, Elsevier, vol. 23(C), pages 23-38.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:eee:corfin:v:14:y:2008:i:4:p:460-474. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.