Not All Buybacks Are Created Equal: The Case of Accelerated Stock Repurchases

被引：13

作者：

Michel, Allen ^{[1
]}

Oded, Jacob ^{[1
,2
]}

Shaked, Israel ^{[1
]}

机构：

[1] Boston Univ, Boston, MA 02215 USA

[2] Tel Aviv Univ, Tel Aviv, Israel

来源：

FINANCIAL ANALYSTS JOURNAL | 2010年 / 66卷 / 06期

关键词：

MARKET SHARE REPURCHASES; PAYOUT POLICY; PROGRAMS; RETURNS; PERFORMANCE; PERSISTENCE; DIVIDENDS; FINANCE; POWER;

D O I：

10.2469/faj.v66.n6.4

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The authors documented the characteristics and market performance of ASR (accelerated share repurchase) stock. They found that post-announcement ASR stock performance is poor, unlike that documented in the literature for other repurchase methods, which implies that ASRs do not signal undervaluation, a frequently suggested motivation for repurchases.

引用

页码：55 / 72

页数：18

共 50 条

[1] The Causes and Consequences of Accelerated Stock Repurchases
Akyol, Ali
Kim, Jin S.
Shekhar, Chander
[J]. INTERNATIONAL REVIEW OF FINANCE, 2014, 14 (03) : 319 - 343
[2] The wealth effects of accelerated stock repurchases
Yook, Ken
Gangopadhyay, Partha
[J]. MANAGERIAL FINANCE, 2014, 40 (05) : 434 - 453
[3] Are all infrastructure investments created equal? The case of Portugal
Pereira, Alfredo M.
Pereira, Rui M.
[J]. JOURNAL OF INFRASTRUCTURE POLICY AND DEVELOPMENT, 2018, 2 (01) : 67 - 86
[4] Are All End Points Created Equal? The Case for Weighting
Wilson, Robert F.
Berger, Alan K.
[J]. JOURNAL OF THE AMERICAN COLLEGE OF CARDIOLOGY, 2011, 57 (05) : 546 - 548
[5] Are All Screening Programmes Created Equal? The Case of Melanoma
Naldi, Luigi
Cazzaniga, Simone
[J]. DERMATOLOGY, 2015, 231 (04) : 294 - 296
[6] All progestins are not created equal
Stanczyk, FZ
[J]. STEROIDS, 2003, 68 (10-13) : 879 - 890
[7] All troponins are not created equal
Jossi, S
Gordon, SL
Legge, MA
Armstrong, GP
[J]. INTERNAL MEDICINE JOURNAL, 2006, 36 (05) : 325 - 327
[8] All nanocarriers are created equal
Park, Kinam
[J]. JOURNAL OF CONTROLLED RELEASE, 2008, 130 (02) : 139 - 139
[9] ALL HYPOXEMIA IS NOT CREATED EQUAL
Kubota-Mishra, E. A.
Agwu, A. V.
Evangelista, M. S.
[J]. JOURNAL OF INVESTIGATIVE MEDICINE, 2018, 66 (02) : 494 - 494
[10] NOT ALL PIXELS ARE CREATED EQUAL
Grotta, Sally Wiener
Grotta, Daniel
[J]. IEEE SPECTRUM, 2012, 49 (05) : 22 - 24

← 1 2 3 4 5 →