This study examines the sensitivity of equity values of oil producers to changes in the uncertainty of future oil prices. We document that this sensitivity is negatively correlated with a firm's debt ratio and its production costs. These results indicate that companies that are more likely to...

This study investigates the motivations for and the wealth effects of 150 fixed price and 110 Dutch auction self-tender offers from the period 1981 to 1994. Like earlier studies, I find significantly positive abnormal returns around the announcements of the self-tender offers. However, unlike...