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
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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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
Journal: Pacific-Basin Finance Journal - Volume 13, Issue 3, June 2005, Pages 319-341
نویسندگان
Sung-Chang Jung, Yong-Gyo Lee, John H. Jr.,