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 study investigates corporate reactions to the deregulation of stock repurchases that began on October 01, 2001, in Japan, by closely examining the motivations for stock repurchases, by which we study firms' usage of treasury stocks and identify the characteristics of firms that were more...