Actual share repurchases, timing and corporate liquidity
Hamon, Jacques; Ginglinger, Edith (2003), Actual share repurchases, timing and corporate liquidity, AFFI (Association Française de Finance), 2003-12, Paris, France
Type
Communication / ConférenceDate
2003Conference title
AFFI (Association Française de Finance)Conference date
2003-12Conference city
ParisConference country
FrancePages
39
Metadata
Show full item recordAbstract (EN)
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.Subjects / Keywords
Open market share repurchases; LiquidityRelated items
Showing items related by title and author.
-
Hamon, Jacques; Ginglinger, Edith (2004) Communication / Conférence
-
Hamon, Jacques; Ginglinger, Edith (2007-03) Article accepté pour publication ou publié
-
Hamon, Jacques; Ginglinger, Edith (2005) Communication / Conférence
-
Hamon, Jacques; Ginglinger, Edith (2009) Article accepté pour publication ou publié
-
Hamon, Jacques; Ginglinger, Edith (2012) Article accepté pour publication ou publié