dc.contributor.author | Hamon, Jacques | |
dc.contributor.author | Ginglinger, Edith | |
dc.date.accessioned | 2010-01-18T10:18:44Z | |
dc.date.available | 2010-01-18T10:18:44Z | |
dc.date.issued | 2003 | |
dc.identifier.uri | https://basepub.dauphine.fr/handle/123456789/3011 | |
dc.language.iso | en | en |
dc.subject | Open market share repurchases | en |
dc.subject | Liquidity | en |
dc.subject.ddc | 332 | en |
dc.subject.classificationjel | G35 | en |
dc.subject.classificationjel | G32 | en |
dc.subject.classificationjel | G14 | en |
dc.title | Actual share repurchases, timing and corporate liquidity | en |
dc.type | Communication / Conférence | |
dc.description.abstracten | Research on the impact of open market share repurchases has been hindered by the lack of dataavailable on actual share repurchases in many countries, including the US. Using a previouslyunused 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 measuredby bid–ask spread or depth. Our results also indicate that share repurchases largely reflect contrariantrading rather than managerial timing ability. | en |
dc.identifier.citationpages | 39 | en |
dc.description.sponsorshipprivate | oui | en |
dc.subject.ddclabel | Economie financière | en |
dc.relation.conftitle | AFFI (Association Française de Finance) | en |
dc.relation.confdate | 2003-12 | |
dc.relation.confcity | Paris | en |
dc.relation.confcountry | France | en |