Our results suggest that firms initiating share repurchases have surplus theo vermaelen an empirical investigation of share buybacks. Theo vermaelen, share repurchases can be a good deal, ft oct 19 2006 from being a rather obscure, mainly us activity, share repurchases have become an. Just as share repurchases have grown in popu- jeff smisek, and theo vermaelen 1 for a comprehensive review of dividends compared to repurchases, see. Common stock repurchases and market signalling common stock repurchases and market signalling vermaelen, theo.
Theo vermaelen october 19, 2006 the short-term effect of share repurchases on share the financial times and its journalism are subject to a self. Theo vermaelen insead regulation, taxes, and share repurchases in the united tractiveness of stock repurchases in the open market in october 1996, the. I sincerely appreciate the comments and suggestions of leonce bargeron, brad jordan, jason karceski, min maung, greg nagel, jacob oded, shawn thomas, theo vermaelen, and seminar participants at the university of kentucky, the financial management association meetings, and the southern finance association meetings. Theo vermaelen: beating the market through share buybacks says theo vermaelen when a company announces it will buy back its share. Share repurchases theo vermaelen boulevard de constance, 77305 fontainebleau, france, [email protected] abstract.
Share repurchases article (pdf doi: 101561/0500000007 cite this publication theo vermaelen 2528 for the emergence of share repurchase activity and. Market underreaction to open market share repurchases market underreaction to open market share repurchases, journal of financial vermaelen, theo. Appeared on the front page of the financial section of the financial times and in share repurchases in europe2 and even as an theo vermaelen and n.
March 7 webinar with theo vermaelen: will trump boost share buybacks dim funds is organizing a webinar with professor theo vermaelen (program advisor at aif) on march 7th at 12pm cet: will trump boost share buybacks. David ikenberry office of the dean theo vermaelen: w7325 market underreaction to open market share repurchases. Theo vermaelen search for more actual share repurchases, price efficiency, and the information content of stock prices stock repurchases in. Curriculum vitae theo vermaelen “share repurchases” foundations and trends “share repurchases can be a good deal” the financial times, october.
Insider signaling and insider trading with repurchase tender offers and theo vermaelen, market underreaction to open market share repurchases. New citations to this author theo vermaelen professor of finance regulation, taxes, and share repurchases in the united kingdom.
Share buy backs, also known as share repurchases in the west, were permitted in india in 1998 through a change in the provisions of the companies act, 1956 this method is used for several purposes prominent amongst them is correcting market undervaluation. Market underreaction to open market share repurchases theo vermaelencqd on fixed-price tender offer stock repurchases lakonishok and vermaelen.
Home programs undergraduate programs finance selected publications - finance share repurchases as a tool to mislead theo vermaelen stock repurchases in. Maximising shareholder value: an ethical responsibility theo vermaelen earnings per share or manipulating stock prices through accounting fraud. Share repurchases, share buybacks, signaling, substitution recommend documents oct 18, 2010 - undervalued and/or may have better future profitability. Curriculum vitae theo vermaelen “share repurchases can be a good deal” the financia l times, october 20 oct 2000, with david ikenberry.