How Do Institutional Investors Trade When Firms Buy Back Their Shares?
We study how institutional investors trade when firms buy back shares. We find that institutions sell following share repurchase announcements. The institutional sell-off results in a more concentrated ownership by institutions, as the number of institutions in the investor base declines after accou...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2015
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3772 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4771/viewcontent/Repurchase_IItrading_1211.pdf |
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| Institution: | Singapore Management University |
| Language: | English |