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...

This paper examines whether and how ownership structure affects stock repurchase by looking at the incentives to adjust capital structure and signal undervaluation through repurchasing. We find that a strong monitoring structure motivates the adoption of an optimal capital structure with which...

This paper examines whether and how ownership structure affects stock repurchase by looking at the incentives to adjust capital structure and signal undervaluation through repurchasing. We find that a strong monitoring structure motivates the adoption of an optimal capital structure with which...