We document a U-shaped relation between long-run excess returns after buyback authorization announcements and firm centrality in the input-output trade flow network. We rationalize this finding in a model in which investors are endowed with a large but finite capacity for analyzing firms....

CEO trustworthiness is positively related to long-term excess returns after buyback announcements. When the CEO is trustworthy, statements that the stock is undervalued are more credible. CEO trustworthiness is initially measured by the extent to which people in the county where the company...

This paper uses the 2013 fiscal cliff as a natural experiment to examine how the political affiliation of the CEO affected a firm's response to an expected increase in personal taxes on dividends. Firms could avoid such additional taxes by paying extra dividends and accelerating dividends in the...