How do Institutional Investors Trade when Firms are Buying Back Shares?
We study how institutional investors trade when firms buy back shares. We find that aggregate institutional ownership decline following share repurchase announcements. While some institutions sell shares passively to meet the firm demand for the market to clear, the overall institutional sell-off on...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2012
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3492 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4491/viewcontent/HuangSZheRepurchase_IItrading2012.pdf |
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| Institution: | Singapore Management University |
| Language: | English |