Investor heterogeneity, investor-management disagreement and share repurchases
This paper develops and tests a new theoretical explanation for stock repurchases. Investors may disagree with the manager about the firm's investment projects. A repurchase causes a change in the investor base as investors who are most likely to disagree with the manager tender their shares. T...
Saved in:
| Main Authors: | , |
|---|---|
| 格式: | text |
| 語言: | English |
| 出版: |
Institutional Knowledge at Singapore Management University
2013
|
| 主題: | |
| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/3292 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4291/viewcontent/Sheng_InvestorHeterogeneity_av.pdf |
| 標簽: |
添加標簽
沒有標簽, 成為第一個標記此記錄!
|