Weston, J. Fred; Siu, Juan A. - Anderson Graduate School of Management, University of … - 2003
Net share repurchases have increased both in absolute terms and relative to cash dividends. Share repurchases during 1975-87 were predominantly fixed price tender offers and Dutch auctions, mainly signaling undervaluation. By 1994 open market repurchases (OMRs) represented over 95% of repurchase...