Recent academic studies document that open market share repurchase announcements in the United States generate significantly lower returns than those reported in earlier studies. We find that the lower announcement return is associated with an increasing number of subsequent announcements in the...

In recent years, globalization of capital flows has lead to the growing relevance of "Emerging Capital Markets". In particular, India is one of the countries with an expanding stock market that has started attracting foreign funds. The Indian capital market has grown phenomenally due to the...