The effects of bank relations on stock repurchases : evidence from Japan

• Main Authors: Kang, Jun-Koo, Nishikawa, Takeshi, Kim, Kenneth A., Kitsabunnarat-Chatjuthamard, P.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2014
• Subjects: DRNTU::Business::Finance::Stock exchanges
• Online Access: https://hdl.handle.net/10356/100785; http://hdl.handle.net/10220/18457
• Institution: Nanyang Technological University

This paper examines the effects that bank relations have on stock repurchases in Japan. Similar to US evidence, we find that stock repurchase announcements in Japan have positive announcement period returns. Announcement returns are positively related to equity ownership by main banks, but are negat...