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Identification and Evaluation of Factors of Dividend Policy

Omerhodzic, Sead - In: Economic Analysis 47 (2014), pp. 42-58

Dividend policy determines the ratio between the earnings distributed to shareholders and the earnings retained in the company. Even though retained earnings are one of the most important funding sources used for financing corporate growth, the accrued dividends represent stakeholders' cash...

Persistent link: https://www.econbiz.de/10010790609

Hintergründe der japanischen Yen- und Aktienbaisse

Hilpert, Hanns-Günther - In: Ifo Schnelldienst 43 (1990) 25, pp. 12-16

Stabilität.Während sich in den USA das Kurs-Gewinn-Verhältnis auf einen Wert zwischen 10 und 15 stabilisiert, stieg es in Japan … der Börse von Tokyo. Die Bank von Japan hat in dieser Zeit durch fünf Diskontsatzerhöhungen den japanischen Zins dem …

Persistent link: https://www.econbiz.de/10005055970

Credibility of Management Earnings Forecasts and Future Returns

Kitagawa, Norio; Shuto, Akinobu - Research Institute for Economics and Business … - 2013

likely to miss their earnings forecast at the end of the fiscal year and revise their forecasts downward to meet their … earnings forecasts for the period, suggesting that forecast management through discretionary forecasting produces less credible … thus overprice them at the forecast announcement. …

Persistent link: https://www.econbiz.de/10010822759

Share Repurchasing and the Policies of Stock-Options

Houcine, Rim El; Boubaker, Adel - In: International Journal of Academic Research in … 4 (2014) 1, pp. 175-187

The objective of this paper is to examine the relation between share repurchases and stock options. In fact, certain studies demonstrate that the development of stock option plans since the beginning of the 1990s is also considered one explanation for the increase in equity programs for...

Persistent link: https://www.econbiz.de/10010850204

Stock Performance around Share Repurchase Announcements in Germany

Stehle, Richard; Seifert, Udo - Sonderforschungsbereich 373, Quantifikation und … - 2003

Empirical studies of open-market share repurchases in the U.S. typically find a mean abnormal return around the announcement day of about 3%. In Germany share repurchases were highly restricted before May 1998. Since then firms have repurchased shares in the open market more than 250 times....

Persistent link: https://www.econbiz.de/10010956381

The Intra-Industry Effect of Share Repurchase Deregulation: Evidence from Taiwan

Chang, Shao-Chi; Lai, Jung-Ho; Yu, Chen-Hsiang - In: Review of Pacific Basin Financial Markets and Policies … 08 (2005) 02, pp. 251-277

Share repurchases were deregulated in Taiwan in 2000. The regulatory provisions and the government's stated aim of market stabilization provide a setting in which share repurchases are exclusively motivated by undervaluation. This study investigates if deregulation of share repurchases is an...

Persistent link: https://www.econbiz.de/10005080747

Stock Buybacks and Their Association with Stock Options Exercised in the IT Industry

Hurtt, David N.; Kreuze, Jerry G.; Langsam, Sheldon A. - In: American Journal of Business 23 (2008) 1, pp. 13-21

One of the most complex and controversial issues confronting the Financial Accounting Standards Board (FASB) over the last several years has been the accounting and financial reporting of stock options. In December 2004, the FASB issued Statement 123R, Share-Based Payment, in the hope that the...

Persistent link: https://www.econbiz.de/10010814742

Stock repurchases as an earnings management mechanism: The impact of financing constraints

Farrell, Kathleen; Unlu, Emre; Yu, Jin - In: Journal of Corporate Finance 25 (2014) C, pp. 1-15

Our paper provides evidence regarding the use of share repurchases as an earnings management mechanism in the presence of debt-financing constraints as well as the impact of these constraints on the use of accruals and other real earnings management techniques. We document that share repurchases...

Persistent link: https://www.econbiz.de/10010753537

Real Earnings Management through Share Repurchases

Asthana, Sharad C. - College of Business, University of Texas-San Antonio

N/A

Persistent link: https://www.econbiz.de/10008631611

Should Insider Trading be Prohibited when Share Repurchases are Allowed?

Buffa, Andrea; Nicodano, Giovanna - Collegio Carlo Alberto, Università degli Studi di Torino - 2006

This paper considers share repurchases as the way long-term shareholders preserve their ability to use corporate information for speculative purposes when insider trading regulation is enforced. This use of corporate information increases the adverse selection losses of short-term shareholders....

Persistent link: https://www.econbiz.de/10005405562

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