Mitchell, Jason; Izan, H. Y.; Lim, Roslinda - In: Multinational Finance Journal 10 (2006) 1-2, pp. 43-79
A compelling reason for engaging in on-market buy-backs is that it provides a signal about the undervaluation of the company. In this paper an alternative, accounting based, method of determining fundamental value and undervaluation is used, namely the Ohlson residual income valuation framework....
