Compartir
Finance and Economics Discussion Series: Good News and Bad News about Share Repurchases (en Inglés)
United States Federal Reserve Board
(Autor)
·
George W. Fenn
(Autor)
·
Nellie Liang
(Autor)
·
Bibliogov
· Tapa Blanda
Finance and Economics Discussion Series: Good News and Bad News about Share Repurchases (en Inglés) - Fenn, George W. ; Liang, Nellie ; United States Federal Reserve Board
$ 47.412
$ 59.266
Ahorras: $ 11.853
Elige la lista en la que quieres agregar tu producto o crea una nueva lista
✓ Producto agregado correctamente a la lista de deseos.
Ir a Mis Listas
Origen: Estados Unidos
(Costos de importación incluídos en el precio)
Se enviará desde nuestra bodega entre el
Lunes 05 de Agosto y el
Miércoles 14 de Agosto.
Lo recibirás en cualquier lugar de Argentina entre 1 y 3 días hábiles luego del envío.
Reseña del libro "Finance and Economics Discussion Series: Good News and Bad News about Share Repurchases (en Inglés)"
We estimate the cross-sectional relationship between open market repurchases and accounting data for a large sample of dividend- paying and non-dividend paying firms over a twelve year period (1984-95). Consistent with the hypothesis that firms use open market repurchases to reduce the agency costs of free cash flow, we find that repurchases are positively related to proxies for free cash flow and negatively related to proxies for marginal financing costs. We also examine the extent to which management stock options influence the choice between open market repurchases and dividend payments. Because the value of management stock options--like any call option--is negatively related to expected future dividend payments, management can increase the value of its stock options by substituting share repurchases for dividend growth. We find evidence that such substitution occurs: for dividend-paying firms, share repurchases are positively related and dividend increases are negatively related to a proxy for management stock options, whereas for non-dividend-paying firms, the relationship between repurchases and options is weak and statistically insignificant.
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
Todos los libros de nuestro catálogo son Originales.
El libro está escrito en Inglés.
La encuadernación de esta edición es Tapa Blanda.
✓ Producto agregado correctamente al carro, Ir a Pagar.
