Abstract:Purpose: This paper examines whether a greater firm’s repurchase intensity translates into more efficient stock price.
Design/ Methodology/ Approach: An unbalanced panel data, that consists of a sample of 337 US repurchasing firms between 2012 and 2016, was analyzed. Based on the result of the Hausman test, fixed effects estimator was employed to estimate the coefficients. To address heterogeneity across time and firms, time effect and standard error clustered by firms were applied.
Findings:Agreat… Show more
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