Corporate Governance and Earnings Management Before Share Repurchase Announcements in Singapore

• Main Author: CHUA, Jian Ming
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2010
• Subjects: corporate governance; share repurchase; earnings management; Asian Studies; Business Law, Public Responsibility, and Ethics; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/etd_coll/60; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1059&context=etd_coll
• Institution: Singapore Management University

Share repurchase in Singapore was legalized in 1998. It is well known that investors view share repurchase as good news. This study is based on share repurchase announcements from 2006 to 2009. The mean Cumulative Market-Adjusted Returns (CAR) for the period [0, +1] and [-1, +1] are significant at 1...