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Citations for "Common stock repurchases and market signalling : An empirical study"

by Vermaelen, Theo

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  1. Scott J. Weisbenner, 2000. "Corporate share repurchases in the 1990s: what role do stock options play?," Finance and Economics Discussion Series 2000-29, Board of Governors of the Federal Reserve System (U.S.).
  2. Bonaimé, Alice Adams & Öztekin, Özde & Warr, Richard S., 2014. "Capital structure, equity mispricing, and stock repurchases," Journal of Corporate Finance, Elsevier, vol. 26(C), pages 182-200.
  3. DeAngelo, Harry & DeAngelo, Linda & Skinner, Douglas J., 1996. "Reversal of fortune Dividend signaling and the disappearance of sustained earnings growth," Journal of Financial Economics, Elsevier, vol. 40(3), pages 341-371, March.
  4. Chan, Konan & Ikenberry, David L. & Lee, Inmoo & Wang, Yanzhi, 2010. "Share repurchases as a potential tool to mislead investors," Journal of Corporate Finance, Elsevier, vol. 16(2), pages 137-158, April.
  5. John B. Shoven & Laurie Blair Simon, 1987. "Share Repurchases and Acquisitions: An Analysis of Which Firms Participate," NBER Working Papers 2243, National Bureau of Economic Research, Inc.
  6. Nohel, Tom & Tarhan, Vefa, 1998. "Share repurchases and firm performance:: new evidence on the agency costs of free cash flow," Journal of Financial Economics, Elsevier, vol. 49(2), pages 187-222, August.
  7. 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).
  8. Hodrick, Laurie Simon, 1999. "Does stock price elasticity affect corporate financial decisions?," Journal of Financial Economics, Elsevier, vol. 52(2), pages 225-256, May.
  9. William Terando & Wayne Shaw & David Smith, 2007. "Valuation and classification of company issued cash and share-puts," Review of Quantitative Finance and Accounting, Springer, vol. 29(3), pages 223-240, October.
  10. Aigbe Akhigbe & Jeff Madura, 1999. "Intraindustry Effects of Bank Stock Repurchases," Journal of Financial Services Research, Springer, vol. 15(1), pages 23-36, February.
  11. Woan-lih Liang & Konan Chan & Wei-Hsien Lai & Yanzhi Wang, 2013. "Motivation for Repurchases: A Life Cycle Explanation," Journal of Financial Services Research, Springer, vol. 43(2), pages 221-242, April.
  12. Liang, Woan-lih, 2012. "Information content of repurchase signals: Tangible or intangible information?," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 261-274.
  13. Gunnar Bårdsen & Jurgen Doornik & Jan Tore Klovland, 2004. "A European-type wage equation from an American-style labor market: Evidence from a panel of Norwegian manufacturing industries in the 1930s," Working Paper 2004/4, Norges Bank.
  14. James C. Brau & Andrew Holmes, 2006. "Why Do REITs Repurchase Stock? Extricating the Effect of Managerial Signaling in Open Market Share Repurchase Announcements," Journal of Real Estate Research, American Real Estate Society, vol. 28(1), pages 1-24.
  15. Baker, H. Kent & Powell, Gary E. & Veit, E. Theodore, 2003. "Why companies use open-market repurchases: A managerial perspective," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(3), pages 483-504.
  16. Johannes A. Skjeltorp & Bernt Arne Ødegaard, 2004. "The ownership structure of repurchasing firms," Working Paper 2004/7, Norges Bank.
  17. Beverly Hirtle, 2001. "How do stock repurchases affect bank holding company performance?," Staff Reports 123, Federal Reserve Bank of New York.
  18. Boudry, Walter I. & Kallberg, Jarl G. & Liu, Crocker H., 2013. "Investment opportunities and share repurchases," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 23-38.
  19. Carol Padgett & Zhiqi Wang, . "Short-Term Returns of UK Share Buyback Activity," ICMA Centre Discussion Papers in Finance icma-dp2007-10, Henley Business School, Reading University.
  20. Chan, Konan & Ikenberry, David L. & Lee, Inmoo, 2007. "Do managers time the market? Evidence from open-market share repurchases," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2673-2694, September.
  21. Andreas Hackethal & Alexandre Zdantchouk, 2006. "Signaling Power of Open Market Share Repurchases in Germany," Financial Markets and Portfolio Management, Springer, vol. 20(2), pages 123-151, June.
  22. Isakov, Dusan & Dumont, Pierre-André, 2009. "Les rachats d'actions en Suisse. Objectifs, conséquences et pratiques," FSES Working Papers 408, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
  23. Stehle, Richard & Seifert, Udo, 2003. "Stock Performance around Share Repurchase Announcements in Germany," SFB 373 Discussion Papers 2003,48, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  24. Banyi, Monica L. & Dyl, Edward A. & Kahle, Kathleen M., 2008. "Errors in estimating share repurchases," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 460-474, September.
  25. Gregory L. Adams & James C. Brau & Andrew Holmes, 2007. "REIT Stock Repurchases: Completion Rates, Long - Run Returns, and the Straddle Hypothesis," Journal of Real Estate Research, American Real Estate Society, vol. 29(2), pages 115-136.
  26. Brockman, Paul & Khurana, Inder K. & Martin, Xiumin, 2008. "Voluntary disclosures around share repurchases," Journal of Financial Economics, Elsevier, vol. 89(1), pages 175-191, July.
  27. Mai, Huu Minh & Tchemeni, Emmanuel, 2000. "Rachats des actions - Analyses théorique et empirique," Economics Papers from University Paris Dauphine 123456789/9849, Paris Dauphine University.
  28. Chen, Sheng-Syan & Ho, Kim Wai & Huang, Chia-Wei & Wang, Yanzhi, 2013. "Buyback behavior of initial public offering firms," Journal of Banking & Finance, Elsevier, vol. 37(1), pages 32-42.
  29. 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.
  30. Ginglinger, Edith & Hamon, Jacques, 2007. "Actual share repurchases, timing and liquidity," Journal of Banking & Finance, Elsevier, vol. 31(3), pages 915-938, March.
  31. Jagannathan, Murali & Stephens, Clifford P. & Weisbach, Michael S., 2000. "Financial flexibility and the choice between dividends and stock repurchases," Journal of Financial Economics, Elsevier, vol. 57(3), pages 355-384, September.
  32. Tong, Zhenxu, 2010. "Seasoned equity offerings, repurchases, and deviations from optimal CEO ownership," Finance Research Letters, Elsevier, vol. 7(1), pages 29-38, March.
  33. Chen, Sheng-Syan & Wang, Yanzhi, 2012. "Financial constraints and share repurchases," Journal of Financial Economics, Elsevier, vol. 105(2), pages 311-331.
  34. Oosterhout, H., 1996. "Takeover Barriers: The Good, the Bad and the Ugly," Open Access publications from Tilburg University urn:nbn:nl:ui:12-73595, Tilburg University.
  35. Adelegan, Olatundun, 2006. "Effects of taxes financing decisions and firm value in Nigeria," Proceedings of the German Development Economics Conference, Berlin 2006 1, Verein für Socialpolitik, Research Committee Development Economics.
  36. Luís Krug Pacheco & Clara Raposo, 2009. "ON the TIMING of INITIAL STOCK REPURCHASES," Working Papers de Gestão (Management Working Papers) 06, Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto).
  37. Baker, H. Kent & Powell, Gary E. & Veit, E. Theodore, 2002. "Revisiting the dividend puzzle: Do all of the pieces now fit?," Review of Financial Economics, Elsevier, vol. 11(4), pages 241-261.
  38. Francois Lecointe & Philippe Ducos & Patrick Artus, 1992. "Rachats d'entreprise avec endettement (LBO et MBO) : motivations micro-économiques, effets sur l'efficacité des entreprises et risques macro-économiques," Économie et Prévision, Programme National Persée, vol. 102(1), pages 89-104.
  39. Mitchell, Jason D. & Dharmawan, Grace V., 2007. "Incentives for on-market buy-backs: Evidence from a transparent buy-back regime," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 146-169, March.
  40. Eva Terberger & Stefanie Wettberg, 2005. "Der Aktienrückkauf und die Bankenkrise von 1931," Working Papers 0418, University of Heidelberg, Department of Economics, revised Mar 2005.
  41. C. N. Bagley & D. K. Ghosh & U. Yaari, 1998. "Pecking order as a dynamic leverage theory," The European Journal of Finance, Taylor & Francis Journals, vol. 4(2), pages 157-183.
  42. Lee, Yi-Tsung & Liu, Yu-Jane & Roll, Richard & Subrahmanyam, Avanidhar, 2006. "Taxes and dividend clientele: Evidence from trading and ownership structure," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 229-246, January.
  43. Alon Brav & John R. Graham & Campbell R. Harvey & Roni Michaely, 2003. "Payout Policy in the 21st Century," NBER Working Papers 9657, National Bureau of Economic Research, Inc.
  44. Lie, Erik, 2005. "Operating performance following dividend decreases and omissions," Journal of Corporate Finance, Elsevier, vol. 12(1), pages 27-53, December.
  45. Dusan ISAKOV & Dennis Y. CHUNG & Christophe PERIGNON, 2005. "Repurchasing Shares on a Second Trading Line," FAME Research Paper Series rp162, International Center for Financial Asset Management and Engineering.
  46. von Eije, Henk & Megginson, William L., 2008. "Dividends and share repurchases in the European Union," Journal of Financial Economics, Elsevier, vol. 89(2), pages 347-374, August.
  47. Powell, O.R., 2010. "Essays on experimental bubble markets," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4219264, Tilburg University.
  48. du Jardin, Philippe & Séverin, Eric, 2011. "Dividend policy," MPRA Paper 44382, University Library of Munich, Germany.
  49. Massa, Massimo & Rehman, Zahid & Vermaelen, Theo, 2007. "Mimicking repurchases," Journal of Financial Economics, Elsevier, vol. 84(3), pages 624-666, June.
  50. 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, vol. 18(5), pages 1023-1050.
  51. David Ikenberry & Josef Lakonishok & Theo Vermaelen, 2000. "Stock Repurchases in Canada: Performance and Strategic Trading," Journal of Finance, American Finance Association, vol. 55(5), pages 2373-2397, October.
  52. Yook, Ken C., 2010. "Long-run stock performance following stock repurchases," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(3), pages 323-331, August.
  53. Robert M. Hull & Sungkyu Kwak & Rosemary L. Walker, 2010. "Insider signaling and seasoned equity offerings," Managerial Finance, Emerald Group Publishing, vol. 36(8), pages 703-721, August.
  54. Denis, Diane K. & Shome, Dilip K., 2005. "An empirical investigation of corporate asset downsizing," Journal of Corporate Finance, Elsevier, vol. 11(3), pages 427-448, June.
  55. DeAngelo, Harry & DeAngelo, Linda & Skinner, Douglas J., 2004. "Are dividends disappearing? Dividend concentration and the consolidation of earnings," Journal of Financial Economics, Elsevier, vol. 72(3), pages 425-456, June.
  56. Chang, Saeyoung & Puthenpurackal, John, 2014. "Repurchases of convertible preferred stock and shareholder wealth," Journal of Business Research, Elsevier, vol. 67(4), pages 623-630.
  57. Hatakeda, Takashi & Isagawa, Nobuyuki, 2004. "Stock price behavior surrounding stock repurchase announcements: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 12(3), pages 271-290, June.
  58. Zhang, Hua, 2005. "Share price performance following actual share repurchases," Journal of Banking & Finance, Elsevier, vol. 29(7), pages 1887-1901, July.
  59. 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.
  60. Chen, Dong, 2012. "Classified boards, the cost of debt, and firm performance," Journal of Banking & Finance, Elsevier, vol. 36(12), pages 3346-3365.
  61. 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.
  62. Salim Chahine & Mohamad Zeidan & Hala Dairy, 2012. "Corporate governance and the market reaction to stock repurchase announcement," Journal of Management and Governance, Springer, vol. 16(4), pages 707-726, November.
  63. Kulchania, Manoj, 2013. "Catering driven substitution in corporate payouts," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 180-195.
  64. de Jong, A. & van Dijk, R. & Veld, C.H., 2001. "The Dividend and Share Repurchase Policies of Canadian Firms," ERIM Report Series Research in Management ERS-2001-88-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  65. Ravi, Rahul & Hong, Youna, 2014. "Firm opacity and financial market information asymmetry," Journal of Empirical Finance, Elsevier, vol. 25(C), pages 83-94.
  66. Gorkittisunthorn, Maneeporn & Jumreornvong, Seksak & Limpaphayom, Piman, 2006. "Insider ownership, bid-ask spread, and stock splits: Evidence from the Stock Exchange of Thailand," International Review of Financial Analysis, Elsevier, vol. 15(4-5), pages 450-461.
  67. Persons, John C., 1997. "Heterogeneous shareholders and signaling with share repurchases," Journal of Corporate Finance, Elsevier, vol. 3(3), pages 221-249, June.
  68. Kahle, Kathleen M., 2002. "When a buyback isn't a buyback: open market repurchases and employee options," Journal of Financial Economics, Elsevier, vol. 63(2), pages 235-261, February.
  69. Gow-Cheng Huang & Kartono Liano & Ming-Shiun Pan, 2009. "REIT Open-Market Stock Repurchases and Profitability," The Journal of Real Estate Finance and Economics, Springer, vol. 39(4), pages 439-449, November.
  70. Xu, Pisun (Tracy), 2013. "Managerial incentives and a firm's cash flow sensitivities," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 80-96.
  71. Ikenberry, David & Lakonishok, Josef & Vermaelen, Theo, 1995. "Market underreaction to open market share repurchases," Journal of Financial Economics, Elsevier, vol. 39(2-3), pages 181-208.
  72. Hirtle, Beverly, 2004. "Stock repurchases and bank holding company performance," Journal of Financial Intermediation, Elsevier, vol. 13(1), pages 28-57, January.
  73. Cheng, Su-Yin & Hou, Han, 2013. "The information content of open-market repurchase announcements in Taiwan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 27(C), pages 59-75.
  74. Robin Wilber, 2007. "Why do firms repurchase stock to acquire another firm?," Review of Quantitative Finance and Accounting, Springer, vol. 29(2), pages 155-172, August.
  75. Weston, J. Fred & Siu, Juan A., 2003. "Changing Motives for Share Repurchases," University of California at Los Angeles, Anderson Graduate School of Management qt9146588t, Anderson Graduate School of Management, UCLA.
  76. Drobetz, Wolfgang & Grüninger, Matthias C. & Hirschvogl, Simone, 2010. "Information asymmetry and the value of cash," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2168-2184, September.
  77. Kang, Jun-Koo & Kim, Kenneth A. & Kitsabunnarat-Chatjuthamard, P. & Nishikawa, Takeshi, 2011. "The effects of bank relations on stock repurchases: Evidence from Japan," Journal of Financial Intermediation, Elsevier, vol. 20(1), pages 94-116, January.
  78. Alzahrani, Mohammed & Lasfer, Meziane, 2012. "Investor protection, taxation, and dividends," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 745-762.
  79. Barth, Mary E. & Kasznik, Ron, 1999. "Share repurchases and intangible assets," Journal of Accounting and Economics, Elsevier, vol. 28(2), pages 211-241, December.
  80. Robert Hull & Sungkyu Kwak & Rosemary Walker, 2012. "Explanation for market response to seasoned equity offerings," Journal of Economics and Finance, Springer, vol. 36(3), pages 634-661, July.
  81. Hung, Weifeng, 2014. "Institutional trading and attention bias," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 29(C), pages 71-91.
  82. Hamon, Jacques & Ginglinger, Edith, 2007. "Actual share repurchases, timing and liquidity," Economics Papers from University Paris Dauphine 123456789/1748, Paris Dauphine University.
  83. Ofer, Aharon R & Thakor, Anjan V, 1987. " A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends," Journal of Finance, American Finance Association, vol. 42(2), pages 365-94, June.
  84. Michel Albouy & Tania Morris, 2006. "Les rachats d’actions au Canada:motivations et impact de l’activité économique," Revue Finance Contrôle Stratégie, revues.org, vol. 9(4), pages 5-32, December.
  85. Haruvy, E. & Noussair, C.N. & Powell, O.R., 2012. "The Impact of Asset Repurchases and Issues in an Experimental Market," Discussion Paper 2012-092, Tilburg University, Center for Economic Research.
  86. Jun, Sang-gyung & Jung, Mookwon & Walkling, Ralph A., 2009. "Share repurchase, executive options and wealth changes to stockholders and bondholders," Journal of Corporate Finance, Elsevier, vol. 15(2), pages 212-229, April.
  87. Louis, Henock & White, Hal, 2007. "Do managers intentionally use repurchase tender offers to signal private information? Evidence from firm financial reporting behavior," Journal of Financial Economics, Elsevier, vol. 85(1), pages 205-233, July.
  88. Manuel Ammann & Ralf Seiz & Martin Zulauf, 2006. "Nennwertrückzahlungen am Schweizer Aktienmarkt und ihre Auswirkungen auf den Unternehmenswert," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(IV), pages 447–477, December.
  89. Hribar, Paul & Jenkins, Nicole Thorne & Johnson, W. Bruce, 2006. "Stock repurchases as an earnings management device," Journal of Accounting and Economics, Elsevier, vol. 41(1-2), pages 3-27, April.
  90. Healy, Paul M. & Palepu, Krishna G., 1995. "The challenges of investor communication The case of CUC International, Inc," Journal of Financial Economics, Elsevier, vol. 38(2), pages 111-140, June.
  91. Muurling, Rutger & Lehnert, Thorsten, 2004. "Option-based compensation: a survey," The International Journal of Accounting, Elsevier, vol. 39(4), pages 365-401.
  92. 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, vol. 36(1-3), pages 51-90, December.
  93. Bargeron, Leonce & Kulchania, Manoj & Thomas, Shawn, 2011. "Accelerated share repurchases," Journal of Financial Economics, Elsevier, vol. 101(1), pages 69-89, July.
  94. Farrugia, Damien & Graham, Michael & Yawson, Alfred, 2011. "Economic conditions and the motives for multiple open-market share buybacks," Research in International Business and Finance, Elsevier, vol. 25(2), pages 156-168, June.
  95. Bae, Sung C. & Simet, Daniel P., 1998. "A comparative analysis of leveraged recapitalization versus leveraged buyout as a takeover defense," Review of Financial Economics, Elsevier, vol. 7(2), pages 157-172.
  96. Haw, In-Mu & Ho, Simon S.M. & Hu, Bingbing & Zhang, Xu, 2011. "The contribution of stock repurchases to the value of the firm and cash holdings around the world," Journal of Corporate Finance, Elsevier, vol. 17(1), pages 152-166, February.
  97. Elizabeth Almer & Audrey Gramling & Steven Kaplan, 2008. "Impact of Post-restatement Actions Taken by a Firm on Non-professional Investors’ Credibility Perceptions," Journal of Business Ethics, Springer, vol. 80(1), pages 61-76, June.
  98. Zhang, Hua, 2002. "Share repurchases under the Commercial Law 212-2 in Japan: Market reaction and actual implementation," Pacific-Basin Finance Journal, Elsevier, vol. 10(3), pages 287-305, June.
  99. Peyer, Urs C. & Vermaelen, Theo, 2005. "The many facets of privately negotiated stock repurchases," Journal of Financial Economics, Elsevier, vol. 75(2), pages 361-395, February.
  100. John B. Shoven, 1986. "New Developments in Corporate Finance and Tax Avoidance: Some Evidence," NBER Working Papers 2091, National Bureau of Economic Research, Inc.
  101. Ishikawa, Masaya & Takahashi, Hidetomo, 2011. "Testing the managerial timing ability: Evidence from stock repurchases in Japan," Finance Research Letters, Elsevier, vol. 8(1), pages 21-27, March.
  102. Andriosopoulos, Dimitris & Hoque, Hafiz, 2013. "The determinants of share repurchases in Europe," International Review of Financial Analysis, Elsevier, vol. 27(C), pages 65-76.