Teng, Min; Hachiya, Toyohiko - In: Review of Pacific Basin Financial Markets and Policies … 16 (2013) 03, pp. 1350016-1
This paper examines stock repurchases from an agency perspective by identifying agency costs across three dimensions — interest conflicts and information asymmetry, managerial discretion, and the use of alternative mechanisms to mitigate agency conflicts. We use ownership structure as a proxy...