Chen, Hsuan-Chi; Chen, Sheng-Syan; Huang, Chia-Wei; … - In: Journal of Business Finance & Accounting 41 (2014) 1-2, pp. 156-184
The long-run performance of equity securities subsequent to announcements of open market repurchases (OMR) remains a contentious topic. In this paper we propose the “dichotomous expectations hypothesis” which posits that insider trading following share repurchase announcements reveals...