Akhigbe, Aigbe; Kim, Doseong; Madura, Jeff - In: The Financial Review 42 (2007) 4, pp. 537-555
We investigate the price performance of closed-end funds that announce share-repurchase programs. Closed-end funds experience positive average stock-price reactions to the announcements. The long-run buy-and-hold abnormal returns of repurchasing funds over the subsequent three years are...