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dc.contributor.authorHamon, Jacques
dc.contributor.authorGinglinger, Edith
dc.date.accessioned2009-07-30T15:34:48Z
dc.date.available2009-07-30T15:34:48Z
dc.date.issued2009
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/1435
dc.descriptionCe document est également paru dans la série des Working Papers de la Chaire Finance d'entreprise Dauphine - FBF, n° 2008-9
dc.language.isoenen
dc.subjectOpen market share repurchasesen
dc.subjectInsider tradingen
dc.subjectRegulationsen
dc.subjectLiquidityen
dc.subject.ddc658.1en
dc.subject.classificationjelK22en
dc.subject.classificationjelG18en
dc.subject.classificationjelG35en
dc.titleShare repurchase regulations: do firms play by the rules?en
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenOpen market share repurchases are strictly regulated to prevent companies from profiting from insider information. We examine compliance with these rules in France, where the mandatory disclosure of share repurchases provides detailed information on repurchases actually undertaken. Using a database containing 36,848 repurchases made by 352 French firms over the period 2000-2002, we show that very few firms fully comply with the regulations for all their buybacks. Non-compliance has an adverse effect on liquidity only for the smallest and least liquid firms.en
dc.relation.isversionofjnlnameInternational Review of Law and Economics
dc.relation.isversionofjnlvol29en
dc.relation.isversionofjnlissue2en
dc.relation.isversionofjnldate2009-06
dc.relation.isversionofjnlpages81-96en
dc.identifier.urlsitehttp://halshs.archives-ouvertes.fr/halshs-00143974/en/en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherSevenoaksen
dc.subject.ddclabelOrganisation et finances d'entrepriseen


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