The determinants of share repurchases in Europe
Andriosopoulos, Dimitris and Hoque, Hafiz (2013) The determinants of share repurchases in Europe. International Review of Financial Analysis, 27. pp. 65-76. ISSN 1057-5219
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Abstract
In this paper, we assess which firm-characteristics are associated with a firm's decision to announce a share repurchase programme in a cross-country framework. In the models, we incorporate firm-specific financial characteristics and measures of share price performance. We find that size, cash dividends, and ownership concentration consistently have a significant impact on share repurchase announcements in all three countries under study. However, the share price performance does not explain the decision to announce a share repurchase. The robustness of the proposed models is investigated across different dimensions of sample-matching methods and with a boot-strap technique. Finally, we construct a number of models with a robust predictive ability of a firm's likelihood to announce a share repurchase
Creators(s): |
Andriosopoulos, Dimitris ![]() | Item type: | Article |
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ID code: | 46674 |
Keywords: | share repurchases, determinants, information asymmetry, logit model, boot-strap technique, Finance, Finance, Economics and Econometrics |
Subjects: | Social Sciences > Finance |
Department: | Strathclyde Business School > Accounting and Finance |
Depositing user: | Pure Administrator |
Date deposited: | 13 Feb 2014 16:47 |
Last modified: | 06 Mar 2021 01:57 |
Related URLs: | |
URI: | https://strathprints.strath.ac.uk/id/eprint/46674 |
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