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Market Reactions to Actual Open-Market Share Repurchases - A non-US empirical study

Research output: Working paperResearch

  • Department of Business Studies
This study finds that announcements of actual open-market share repurchases are greeted positively by investors in Denmark. In line with US evidence the results of multiple regression analyses indicate that the the market reacts significantly more positively to repurchase announcements by firms with less attention by financial analysts and thus presumably with more general information asymmetry between management and the market. However, contrary to US evidence variables intended to capture intangible assets, idle cash, and prior period profitability are not significant in explaining the market reaction in Denmark.
Original languageEnglish
Publication statusPublished - 2002

    Research areas

  • Open-market share repurchases, Signalling, Information asymmetry, idle cash, intangible assets, Market reactions, Event study

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ID: 32302933