The option and decision to repurchase stock

Rohit Sonika; Nicholas F. Carline; Mark B. Shackleton

doi:10.1111/fima.12054

The option and decision to repurchase stock

Rohit Sonika, Nicholas F. Carline, Mark B. Shackleton

Finance

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

Open‐market repurchase programs provide firms with the flexibility to manage the cash and risk aspects of their operations. We examine at which stage cash and risk matter in the typical stages of a repurchase program: announcement, implementation, and withdrawal. Cash and risk considerations appear to matter only at the implementation stage, and partially negate the traditional signaling effect around program announcement.

Original language	English
Pages (from-to)	833-855
Journal	Financial Management
Volume	43
Issue number	4
Early online date	17 Feb 2014
DOIs	https://doi.org/10.1111/fima.12054
Publication status	Published - 18 Nov 2014

Bibliographical note

Sonika, R. , Carline, N. F. and Shackleton, M. B. (2014), The Option and Decision to Repurchase Stock. Financial Management, 43: 833-855. doi:10.1111/fima.12054

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10.1111/fima.12054Licence: None: All rights reserved

https://onlinelibrary.wiley.com/doi/full/10.1111/fima.12054Licence: None: All rights reserved

Cite this

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AB - Open‐market repurchase programs provide firms with the flexibility to manage the cash and risk aspects of their operations. We examine at which stage cash and risk matter in the typical stages of a repurchase program: announcement, implementation, and withdrawal. Cash and risk considerations appear to matter only at the implementation stage, and partially negate the traditional signaling effect around program announcement.

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The option and decision to repurchase stock

Abstract

Bibliographical note

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