Purpose: The purpose of this paper is to examine the short-term and long-term wealth effects of two share repurchase motivations. Design/methodology/approach: The authors use a multi-period numerical model and a Monte Carlo simulation. The Monte Carlo simulation introduces uncertainty into...

It is has been shown that regional housing price indexes reported by the National Association of Realtors (NAR) misstate price change over time due to failure to control for variation in housing quality. However, the erroneous assumption that implicit housing characteristic prices are invariant...