Chieh Liang, Wei; Chun Tsao, Yao; Kuei Chen, Wen; Chau … - In: Management Decision 52 (2014) 7, pp. 1236-1244
Purpose – The purpose of this paper is to integrate Modigliani-Miller (MM) theory and stock repurchases strategy to … considers both trichotomy property and MM theory. It proves the share repurchase strategy should be financed by borrowing fund …