What Role Taxes and Regulation? A Second Look at Open Market Share Repurchase Activity in the United Kingdom

2002 ◽  
Author(s):  
Dennis R. Oswald ◽  
Steven Young
Keyword(s):  
United Kingdom ◽  
Market Share ◽  
Share Repurchase ◽  
Open Market ◽  
The United Kingdom ◽  
Second Look

Divergence on Chinese 5G strains 'Five Eyes' alliance

2019 ◽  
Keyword(s):  
United States ◽  
United Kingdom ◽  
New Zealand ◽  
Market Share ◽  
The United States ◽  
Content Type ◽  
The United Kingdom ◽  
Intelligence Sharing ◽  
The Stability ◽  
The Eu

Subject Outlook for the Five Eyes alliance. Significance The stability of the Five Eyes intelligence sharing partnership between Australia, Canada, New Zealand, the United Kingdom and the United States is under stress over Chinese participation in the members’ 5G telecommunications networks. Impacts Possible US concessions on the supply chains of Chinese firms would ease strain within the Five Eyes alliance. European corporates will redouble efforts to burnish their security credentials to capture 5G market share. London’s eventual decision on Huawei will influence the EU and Asian democracies.

Does Share Repurchase Announcement Lead to Rise in Share Price? Evidence from India

2019 ◽  
Vol 20 (2) ◽  
pp. 420-433
Author(s):  
Paramita Mukherjee ◽  
Chanchal Chatterjee
Keyword(s):  
Stock Returns ◽  
Market Share ◽  
Share Price ◽  
Share Repurchase ◽  
Open Market ◽  
Individual Basis ◽  
Increasing Trend ◽  
Excess Stock Returns ◽  
Repurchase Announcements

In recent years, there is an increasing trend of share repurchase announcement by Indian firms. This article attempts to examine whether open market share repurchase announcements in India lead to excess stock returns and to identify the factors responsible for additional stock returns. Apart from a standard market method, the price behaviour is examined on an individual basis. The results show that the firms, on an average, do not experience price improvement after share repurchase. While 24 per cent of the firms lose and 10 per cent gain, the rest experience no change. In normal times, investors prefer small-cap companies, but post-announcement, promoters’ share and premium play an important role.

Informed Repurchases, Information Asymmetry and the Market Response to Open Market Share Repurchases

2018 ◽  
Vol 21 (03) ◽  
pp. 1850021 ◽  
Author(s):  
Bong Soo Lee ◽  
Nathan Mauck
Keyword(s):  
Information Asymmetry ◽  
Market Share ◽  
Abnormal Returns ◽  
Share Repurchases ◽  
Specific Information ◽  
Share Repurchase ◽  
Open Market ◽  
Forecast Dispersion ◽  
Size Number ◽  
Causality Tests

This paper relates informed repurchases to firm information asymmetry. We propose a new measure of informed repurchases, which is based on causality tests relating repurchase information to firm returns. Our results indicate that informed repurchases show larger abnormal returns surrounding the announcement of an open market share repurchase, which suggests the market at least partially recognizes informed repurchases. This holds after controlling for conventional information asymmetry proxies, such as firm size, number of analysts following, and analyst forecast dispersion, indicating that the market is aware of repurchase specific information not captured by traditional information asymmetry proxies. Informed repurchases demonstrate larger long-term abnormal returns at one, two, and three-year windows than high traditional information asymmetry repurchases.

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