Testing the Real Option Hypothesis on the Declining Open-Market Repurchase Announcement Returns
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DOI: 10.1142/s0219091520500241
Abstract: Recent studies report that open-market repurchase announcements have become less attractive to stock investors. This study documents that lower announcement returns are attributed to subsequent repurchase announcements, which have increased in number in recent years.… read more here.
Keywords: announcement returns; option; market; open market ... See more keywords