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Corporate share repurchases in the 1990s : what role do stock options play?
Weisbenner, Scott J. - 2000
Persistent link: https://www.econbiz.de/10001492125
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Equity market misvaluation, financing, and investment
Warusawitharana, Missaka; Whited, Toni Marion - 2013 - Rev.
Persistent link: https://www.econbiz.de/10010432478
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Equity Market Misvaluation, Financing, and Investment
Warusawitharana, Missaka; Whited, Toni M. - 2017
We quantify how much nonfundamental movements in stock prices affect firm decisions. We estimate a dynamic investment model in which firms can finance with equity or cash (net of debt). Misvaluation affects equity values, and firms optimally issue and repurchase overvalued and undervalued...
Persistent link: https://www.econbiz.de/10014121059
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Equity Market Misvaluation, Financing, and Investment
Warusawitharana, Missaka - 2014
We estimate a dynamic investment model in which firms finance with equity, cash, or debt. Misvaluation affects equity values, and firms optimally issue and repurchase overvalued and undervalued shares. The funds flowing to and from these activities come from investment, dividends, or net cash....
Persistent link: https://www.econbiz.de/10013065520
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Executive remuneration and the payout decision
Geiler, Philipp H. M.; Renneboog, Luc - 2014
Persistent link: https://www.econbiz.de/10011282833
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Short-termism and capital flows
Fried, Jesse M.; Wang, Charles C. Y. - 2018
Persistent link: https://www.econbiz.de/10011901681
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Short-termism and capital flows
Fried, Jesse M.; Wang, Charles C. Y. - 2018
Persistent link: https://www.econbiz.de/10011972873
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Employee Compensation Still Impacts Payout Policy
Bonaime, Alice A. - 2020
Employee compensation may impact payout policy by (i) incentivizing managers with non-dividend-protected options to … dividend-protection and dilution channels imply a positive relation between stock options and repurchases. Yet, recent studies … dilution channel; dividend protection has no first-order effect on payout. Difference-in-differences analyses using a shock to …
Persistent link: https://www.econbiz.de/10012852281
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Testing the information-based trading hypothesis in the option market : evidence from share repurchases
Badshah, Ihsan Ullah; Koerniadi, Hardjo; Kolari, James W. - In: Journal of risk and financial management : JRFM 12 (2019) 4/179, pp. 1-11
The informed options trading hypothesis posits that option prices lead stock prices. In this paper, we extended the research on this hypothesis to open-market share repurchases. Empirical tests showed that the implied volatility spread was not significantly related to buy-and-hold abnormal stock...
Persistent link: https://www.econbiz.de/10012171287
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Cephalon, Inc. : taking risk management theory seriously
Chacko, George; Tufano, Peter; Verter, Geoffrey - 2000
Persistent link: https://www.econbiz.de/10001487970