Su, Nai-Hui; Lin, Chan-Jane - In: Emerging Markets Finance and Trade 48 (2012) 7, pp. 200-229
This study examines long-term stock returns following open-market share repurchases of listed firms in Taiwan. The empirical results based on event-time cumulative abnormal returns (CARs) and buy-and-hold abnormal returns (BHARs) show that announcing firms do not experience significant positive...