Cargando…
Precautionary versus Signalling Motive of Share Repurchases: Evidence from Policy Uncertainty and the COVID‐19 Crisis
Using policy‐related uncertainty as a shock to firms’ internal and external financing frictions, we find significantly lower repurchase likelihoods, short‐term market reactions, and post‐announcement completion rates of open market share repurchases during periods of high policy uncertainty. Firms a...
| Autores principales: | , , |
|---|---|
| Formato: | Online Artículo Texto |
| Lenguaje: | English |
| Publicado: |
John Wiley and Sons Inc.
2022
|
| Materias: | |
| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9877841/ http://dx.doi.org/10.1111/1467-8551.12668 |