Wang, Li-Hsun; Lin, Chu-Hsiung; Fung, Hung-Gay; Chen, … - In: International Review of Economics & Finance 27 (2013) C, pp. 497-513
We show that the specific regulation in Taiwan requiring firms to repurchase shares explicitly to resolve the information ambiguity does not prevent market underreaction by the evidences of positive short-term and long-term abnormal return. In addition, firms that retire their buybacks show a...