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Africa *To whom all correspondence should be addressed Nicolene.Wesson@usb.ac.za This study examined the long-term performance of open market share repurchase announcements made by companies listed ...
ABSTRACT Contrary to the implications of many payout theories, we find that announcements of open ‐ market share repurchase programs are not followed by an increase in operating performance. However ...
a positive announcement stock price response and positive long‐run stock performance indicating that these repurchases are timed to occur when the company's shares are undervalued and that the market ...
are explained by managers exploiting temporary share overvaluation and Daniel, Hirshleifer, and Subrahmanyam (1998) provide a model explaining why the market underreacts to the information content of corporate ...
there is (a) an overseas buyback, (b) a higher percentage of shares actually repurchased , (c) higher analyst following, as well as other economic incentives such as: (d) greater firm size as well as higher prior-period (e ...
features: (i) both ETF shares and ETF underlying assets are traded in secondary markets , (ii) unlike open -ended mutual funds, the prices of ETF shares may differ from the prices of the underlying assets ...
and acquisitions, dividend initiations, share repurchases , and stock splits. We show that the apparently abnormal returns in the months after these events are substantially reduced or eliminated when compared ...
companies with the highest BoJ share have all positive weights in the Nikkei 225 index. Open in new tab Table 1 BoJ indirect shareholdings BOJ BOJ flow Market cap Nikkei Company name share (%) (bn JPY) (bn ...
is approximately 54.62% of the total market capitalization of floating shares .6Xiao (2013), the chairman of the China Securities Regulatory Commission, points out that the trading volume initiated by small investors ...
that the worse performance of firms with lower financial flexibility compared to their industry persists through the rebound of the stock market . Since the COVID-19 shock has a greater and more direct impact ...
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