Rau, P. Raghavendra; Vermaelen, Theo - In: The Journal of Business 75 (2002) 2, pp. 245-282
We examine share repurchase activity in the United Kingdom over a period when the tax and regulatory environment changed drastically. We find that the form and intensity of repurchase activity in the United Kingdom is influenced by the tax consequences for pension funds. We also find that firms...