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4: The economic consequences of share repurchases: the short run.(Share Repurchases)
From:
Foundations and Trends in Finance
| Date:
May 1, 2005| Author:
Vermaelen, Theo
| COPYRIGHT 2005 Now Publishers, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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4.1 The effect of share repurchases on stock prices of the repurchasing firm: Evidence from the US
During the last twenty-five years, a large number of event-studies have documented the consequences of share buybacks on stock prices. Note that these events are all announcements of buyback authorizations, not announcements of repurchase completions. The typical study only focuses on one type of share repurchase method. To my knowledge, Peyer and Vermaelen [94] is the only...
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