Ikenberry, David; Lakonishok, Josef; Vermaelen, Theo - National Bureau of Economic Research (NBER) - 1999
During the 1980s, U.S. firms that announced stock repurchase programs earned favorable long-run returns. Recently, concerns have been raised regarding the robustness of these findings. This comes at a time of explosive worldwide growth in the adoption of repurchase programs. This study provides...