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Motives for Multiple Open-Market Repurchase Programs
15 references·16 citing·40 second hop
Motives for Multiple Open-Market Repurchase Programs (2003)Motives for Multiple Open-Market Repurcha…Dividends, Share Repurchases, and the Substitution Hypothesis (2002)Dividends, Share Repurchases,…Disappearing dividends: changing firm characteristics or lower propensity to pay? (2001)Disappearing dividends: chang…The cash-flow permanence and information content of dividend increases versus repurchases (2000)The cash-flow permanence and …Financial flexibility and the choice between dividends and stock repurchases (2000)Financial flexibility and the…Actual Share Reacquisitions in Open‐Market Repurchase Programs (1998)Actual Share Reacquisitions i…Do Changes in Dividends Signal the Future or the Past? (1997)Do Changes in Dividends Signa…The Option to Repurchase Stock (1996)The Option to Repurchase StockDetecting abnormal operating performance: The empirical power and specification of test statistics (1996)Detecting abnormal operating …Market underreaction to open market share repurchases (1995)Market underreaction to open …The Relative Signalling Power of Dutch-Auction and Fixed-Price Self-Tender Offers and Open-Market Share Repurchases (1991)The Relative Signalling Power…Corporate payout policy (1988)Corporate payout policyA Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends (1987)A Theory of Stock Price Respo…Dividend Policy under Asymmetric Information (1985)Dividend Policy under Asymmet…Common stock repurchases and market signalling (1981)Common stock repurchases and …The Dividend Puzzle (1976)The Dividend PuzzleThe cost of financial flexibility: Evidence from share repurchases (2016)The cost of financial flexibi…A cross-country study of legal-system strength and real earnings management (2016)A cross-country study of lega…The Share Repurchase Announcement Puzzle: Theory and Evidence (2015)The Share Repurchase Announce…THE INTERNATIONAL JOURNAL OF ORGANIZATIONAL INNOVATION (2015)THE INTERNATIONAL JOURNAL OF …The market valuation of share repurchases in Europe (2014)The market valuation of share…The determinants of share repurchases in Europe (2013)The determinants of share rep…Share repurchases, catering, and dividend substitution (2013)Share repurchases, catering, …Investment opportunities and share repurchases (2013)Investment opportunities and …Insider trading and share repurchases: Do insiders and firms trade in the same direction? (2013)Insider trading and share rep…Information disclosure, CEO overconfidence, and share buyback completion rates (2013)Information disclosure, CEO o…Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures (2013)Do Firms Buy Their Stock at B…Repurchases, Reputation, and Returns (2012)Repurchases, Reputation, and …The Role for Signaling Theory and Receiver Psychology in Marketing (2011)The Role for Signaling Theory…Time-Series Behavior of Share Repurchases and Dividends (2007)Time-Series Behavior of Share…Incentives for on-market buy-backs: Evidence from a transparent buy-back regime (2007)Incentives for on-market buy-…Debt vs. Equity and Asymmetric Information: A Review (2002)Debt vs. Equity and Asymmetri…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Job Market Signaling (1973)Efficient Capital Markets: II (1991)Market Efficiency, Long-Term Returns, and Behavioral Finance (1997)The cost of capital, corporation finance and the theory of investment (2008)Risk, Return, and Equilibrium: Empirical Tests (1973)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)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks (2011)Limited-dependent and qualitative variables in econometrics (1983)Corporate payout policy and managerial stock incentives (2001)Institutional Holdings and Payout Policy (2005)Share Issuance and Cross‐sectional Returns (2008)Using daily stock returns (1985)The effects of management buyouts on operating performance and value (1989)Size and Book-to-Market Factors in Earnings and Returns (1995)Measuring long-horizon security price performance (1997)An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004)Dumb money: Mutual fund flows and the cross-section of stock returns (2008)Dividend Policy, Growth, and the Valuation of Shares (1961)Principles of Corporate Finance. (1981)Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)A Theory of Dividends Based on Tax Clienteles (2000)Chapter 18 A survey of behavioral finance (2003)Agency costs of free cash flow, corporate finance, and takeovers (1996)Stock Valuation and Learning about Profitability (2003)A Catering Theory of Dividends (2004)Product Market Threats, Payouts, and Financial Flexibility (2012)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Earnings Momentum and Earnings Management (2007)The evolving relation between earnings, dividends, and stock repurchases (2007)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Evidence on the Characteristics of Cross Sectional Variation in Stock Returns (1997)The Stock Market Valuation of Research and Development Expenditures (2001)Asset Growth and the Cross‐Section of Stock Returns (2008)Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)Noise (1986)
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References

  • 1985Dividend Policy under Asymmetric Information3,459 cited
  • 2001Disappearing dividends: changing firm characteristics or lower propensity to pay?3,039 cited
  • 1995Market underreaction to open market share repurchases1,739 cited
  • 1996Detecting abnormal operating performance: The empirical power and specification of test statistics1,609 cited
  • 2002Dividends, Share Repurchases, and the Substitution Hypothesis1,467 cited
  • 1976The Dividend Puzzle1,235 cited
  • 2000Financial flexibility and the choice between dividends and stock repurchases1,043 cited
  • 1981Common stock repurchases and market signalling1,037 cited
  • 1997Do Changes in Dividends Signal the Future or the Past?995 cited
  • 1998Actual Share Reacquisitions in Open‐Market Repurchase Programs844 cited
  • 1991The Relative Signalling Power of Dutch-Auction and Fixed-Price Self-Tender Offers and Open-Market Share Repurchases616 cited
  • 2000The cash-flow permanence and information content of dividend increases versus repurchases469 cited
  • 1987A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends436 cited
  • 1988Corporate payout policy424 cited
  • 1996The Option to Repurchase Stock

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220 cited

Cited by

  • 2002Debt vs. Equity and Asymmetric Information: A Review110 cited
  • 2013Insider trading and share repurchases: Do insiders and firms trade in the same direction?107 cited
  • 2012Repurchases, Reputation, and Returns104 cited
  • 2013Share repurchases, catering, and dividend substitution100 cited
  • 2013Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures100 cited
  • 2013The determinants of share repurchases in Europe97 cited
  • 2016A cross-country study of legal-system strength and real earnings management97 cited
  • 2014The market valuation of share repurchases in Europe94 cited
  • 2007Time-Series Behavior of Share Repurchases and Dividends87 cited
  • 2015THE INTERNATIONAL JOURNAL OF ORGANIZATIONAL INNOVATION75 cited
  • 2015The Share Repurchase Announcement Puzzle: Theory and Evidence75 cited
  • 2011The Role for Signaling Theory and Receiver Psychology in Marketing70 cited
  • 2016The cost of financial flexibility: Evidence from share repurchases70 cited
  • 2013Investment opportunities and share repurchases65 cited
  • 2013Information disclosure, CEO overconfidence, and share buyback completion rates65 cited
  • 2007Incentives for on-market buy-backs: Evidence from a transparent buy-back regime62 cited