The objective of this thesis is to comprehend the behaviour of firms repurchasing their own shares, listed in Paris stock exchange, and liquidity contractors, by examining the impact of their trades on market liquidity and share return. More specifically, the thesis focuses on three elements...

Investors often fail to incorporate all relevant information when they make decisions. This is a consequence of both information overload and investors’ limited cognitive abilities. The first essay shows that firms take advantage of investors’ inattention by managing the advance notice...