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THE EFFECT OF SHARE REPURCHASE ON THE VALUE OF THE FIRM*
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THE EFFECT OF SHARE REPURCHASE ON THE VALUE OF THE FIRM* (1968)THE EFFECT OF SHARE REPURCHASE ON THE VAL…Share repurchases and firm innovation (2020)Share repurchases and firm in…SHARE REPURCHASES AND FIRM BEHAVIOR (2009)SHARE REPURCHASES AND FIRM BE…The Wealth and Information Effects of Insurers' Open Market Stock Repurchase Announcements (2004)The Wealth and Information Ef…On the Timing and Execution of Open Market Repurchases (2001)On the Timing and Execution o…The Stock Market Reaction to Significant Tender Offer Repurchases of Stock: Size and Purpose Perspective (1989)The Stock Market Reaction to …MANAGEMENT'S VIEW OF STOCK REPURCHASE PROGRAMS (1981)MANAGEMENT'S VIEW OF STOCK RE…Price Effects of Stock Repurchasing: A Random Coefficient Regression Approach (1980)Price Effects of Stock Repurc…SHOULD A CORPORATION REPURCHASE ITS OWN STOCK? (1976)SHOULD A CORPORATION REPURCHA…Taxes, the Cost of Capital and the Theory of Investment (1972)Taxes, the Cost of Capital an…Financial, Operating and Security Market Parameters of Repurchasing (1969)Financial, Operating and Secu…Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Continuous Auctions and Insider Trading (1985)Inferring Trade Direction from Intraday Data (1991)The Price Impacts of Open Market Repurchase Trades (2006)Share Repurchases, the Clustering Problem, and the Free Cash Flow Hypothesis (2009)Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures (2011)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency costs of free cash flow, corporate finance, and takeovers (1996)Using daily stock returns (1985)The Long-Run Performance of Initial Public Offerings (1991)Common risk factors in the returns on stocks and bonds (1993)The effects of financialization on investment: evidence from firm-level data for the UK (2017)Dynamic capital structure under changing market conditions in the oil industry: An empirical investigation (2020)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)DEBT AND TAXES* (1977)Share Valuation and Corporate Equity Policy (1980)The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect (1982)THE ACQUISITION OF COMMON STOCK BY THE CORPORATE ISSUER† (1966)Inflation, Rational Valuation and the Market (1979)Market Underreaction to Open Market Share Repurchases (1994)Market underreaction to open market share repurchases (1995)An empirical survey of the motivation for share repurchases in the UK (2008)Measuring security price performance (1980)The effects of capital structure change on security prices (1980)Common stock repurchases (1981)Decoupling Policy from Practice: The Case of Stock Repurchase Programs (2001)Anomalous price behaviour around stock repurchases on the Taiwan stock exchange (2005)Stock Repurchase and Agency Problems: New Evidence in Taiwan's Stock Market (2008)Special Information and Insider Trading (1974)INSIDERS AND MARKET EFFICIENCY (1976)THE INSIGNIFICANCE OF BANKRUPTCY COSTS TO THE THEORY OF OPTIMAL CAPITAL STRUCTURE (1978)HIGGLEDY PIGGLEDY GROWTH (1962)Predictive and Statistical Properties of Insider Trading (1968)Australian On-Market Buy-backs: An Examination of Valuation Issues (2006)Why Companies Are Buying Back Their Own Stock (1967)Technical Change and the Aggregate Production Function (1957)Endogenous Technological Change (1990)The relationship between stock repurchase completion rates, firm reputation and financial reporting quality: a commitment‐trust theory perspective (2021)
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Cited by

  • 2001On the Timing and Execution of Open Market Repurchases47 cited
  • 1972Taxes, the Cost of Capital and the Theory of Investment45 cited
  • 1981MANAGEMENT'S VIEW OF STOCK REPURCHASE PROGRAMS41 cited
  • 1976SHOULD A CORPORATION REPURCHASE ITS OWN STOCK?29 cited
  • 1989The Stock Market Reaction to Significant Tender Offer Repurchases of Stock: Size and Purpose Perspective24 cited
  • 1980Price Effects of Stock Repurchasing: A Random Coefficient Regression Approach24 cited
  • 2009SHARE REPURCHASES AND FIRM BEHAVIOR18 cited
  • 2020Share repurchases and firm innovation14 cited
  • 1969Financial, Operating and Security Market Parameters of Repurchasing13 cited
  • 2004The Wealth and Information Effects of Insurers' Open Market Stock Repurchase Announcements11 cited

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