کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
10481201 933068 2005 23 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
An empirical comparison between operations of stabilization funds and stock repurchases in Korea
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
An empirical comparison between operations of stabilization funds and stock repurchases in Korea
چکیده انگلیسی
We examine stock repurchases in Korea. Korea allows unique mechanisms, stock stabilization funds. Our results indicate that these funds are treated by the market as a weak form of repurchase. Firms in Korea that announce open market repurchases repurchase 90% of the announced shares within 3 months. This compares to a smaller percentage in 3 or more years in the United States. The market response in Korea to a repurchase announcement is similar to the United States. Tests of the determinants of the market response to announcements indicate a positive relation between ownership concentration and the market response.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 13, Issue 3, June 2005, Pages 319-341
نویسندگان
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