Afficher la notice abrégée

dc.contributor.authorHamon, Jacques
dc.contributor.authorGinglinger, Edith
dc.date.accessioned2009-09-17T15:11:02Z
dc.date.available2009-09-17T15:11:02Z
dc.date.issued2007-03
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/1748
dc.language.isoenen
dc.subjectLiquidityen
dc.subjectTimingen
dc.subjectRepurchaseen
dc.subjectMicrostructureen
dc.subjectCorporateen
dc.subjectFinanceen
dc.subjectEuronext Paris
dc.subject.ddc332en
dc.subject.classificationjelG35en
dc.subject.classificationjelG32en
dc.subject.classificationjelG14en
dc.titleActual share repurchases, timing and liquidityen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenResearch on the impact of open market share repurchases has been hindered by the lack of data available on actual share repurchases in many countries, including the US. Using a previously unused database containing detailed information on 36,848 repurchases made by 352 French firms, we show that corporate share repurchases have a significant adverse effect on liquidity as measured by bid–ask spread or depth. Our results also indicate that share repurchases largely reflect contrarian trading rather than managerial timing ability.en
dc.relation.isversionofjnlnameJournal of Banking and Finance
dc.relation.isversionofjnlvol31en
dc.relation.isversionofjnlissue3en
dc.relation.isversionofjnldate2007-03
dc.relation.isversionofjnlpages915-938en
dc.relation.isversionofdoihttp://dx.doi.org/doi:10.1016/j.jbankfin.2006.07.006en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie financièreen


Fichiers attachés à cette notice

Thumbnail

Ce document fait partie de la (des) collection(s) suivante(s)

Afficher la notice abrégée