Why Do REITs Repurchase Stock? Extricating the Effect of Managerial Signaling in Open Market Share Repurchase Announcements
- Topics:
- Regulatory Compliance
- Tags:
- Brigham Young University,
- Business Operations,
- Corporate Real Estate,
- Finance,
- Financial Services,
- Investment,
- Open Market,
- Real Estate,
- REIT
- Source:
- Brigham Young University
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Overview: This paper explores the effect of stock repurchase announcements on equity returns for publicly traded real estate investment trusts. In addition to providing analysis of the corporate real estate decision to repurchase shares, the study of share repurchases in the context of real estate investment trusts provides a novel opportunity to disentangle the impact of competing theories for the abnormal returns observed around repurchase announcements. It also provides evidence for the efficacy of the managerial signaling hypothesis.
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Format: PDF | Size: 93KB | Date: Jun 2005 | Pages: 30




