HCBE Faculty Articles

ORCID

Rebecca Abraham 0000-0002-3144-7759

,

Joel Auerbach0000-0002-1229-0127

Document Type

Article

Publication Title

Modern Economy

ISSN

2152-7245

Publication Date

5-16-2018

Abstract/Excerpt

This paper explores the determinants of share repurchase decisions within the context of a modern conceptual framework. Empirically, it categorizes such determinants by firm size, stage of the product life cycle, membership in the technology sector, ownership of overseas cash reserves, and institutional ownership. Share repurchases were used to boost earnings per share temporarily. Such effects dissipated over 1 year and 5 years. Certain categories of firms used share repurchase to grow through acquisitions, while others used share repurchase to prevent takeovers. This paper is the first study to examine share repurchase through categories of determinants within the context of short and long-term post-share repurchase performance.

DOI

https://doi.org/10.4236/me.2018.95061

Volume

9

Issue

5

First Page

966

Last Page

979

Creative Commons License

Creative Commons Attribution-Share Alike 4.0 International License
This work is licensed under a Creative Commons Attribution-Share Alike 4.0 International License.

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