We analyze detailed monthly data on U.S. open market stock repurchases (OMRs) that recently became available following stricter disclosure requirements. We find evidence that OMRs are timed to benefit non-selling shareholders. We present evidence that the profits to companies from timing...

We construct a novel dataset of detailed monthly data on U.S. open market stock repurchases (OMRs) that became available following stricter SEC disclosure requirements in 2004. The data allow us to investigate the timing of OMRs. We find evidence that OMRs are timed to benefit non-selling...

We construct a novel dataset of detailed monthly data on U.S. open market stock repurchases (OMRs) that became available following stricter SEC disclosure requirements in 2004. The data allow us to investigate the timing of OMRs. We find evidence that OMRs are timed to benefit non-selling...

We analyze detailed monthly data on U.S. open market stock repurchases (OMRs) that recently became available following stricter disclosure requirements. We find evidence that OMRs are timed to benefit non-selling shareholders. We present evidence that the profits to companies from timing...