The option and decision to repurchase stock

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

    Research output: Contribution to journalArticlepeer-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 languageEnglish
    Pages (from-to)833-855
    JournalFinancial Management
    Volume43
    Issue number4
    Early online date17 Feb 2014
    DOIs
    Publication statusPublished - 18 Nov 2014

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