Kang, Jun-Koo; Kim, Kenneth A.; … - In: Journal of Financial Intermediation 20 (2011) 1, pp. 94-116
This paper examines the effects that bank relations have on stock repurchases in Japan. Similar to US evidence, we find that stock repurchase announcements in Japan have positive announcement period returns. Announcement returns are positively related to equity ownership by main banks, but are...