Signaling is the most commonly cited explanation for stock repurchases in the academic literature. Yet, there is little evidence on whether managers intentionally use repurchases as signaling devices. Using a firm's financial reporting behavior to infer managerial intent, we find evidence suggesting that managers intentionally use fixed-price repurchase tender offers to signal undervaluation. In contrast, we find no evidence that managers use Dutch-auction tender offers to signal undervaluation. Instead, firms engaging in Dutch-auction repurchases act as if they are trying to deflate their earnings prior to the repurchases to further reduce the repurchasing price. 相似文献
Hendra Esmara (ed.), Teori Ekonomi Dan Kebijaksanaan Pembangunan: Kumpulan Esei Untuk Menghargai Sumitro Djojohadikusumo, Jakarta: P.T. Gramedia, 1987, pp. 645 + xxx, npg.
Khong Cho Oon, The Politics of Oil in Indonesia: Foreign Company-Host Government Relations, LSE Monographs in International Studies, Cambridge: Cambridge University Press, 1986, pp. 253 + x, $89,00.
Hal Hill, Foreign Investment and Industrialization in Indonesia, Singapore: Oxford University Press, 1988, pp. 179 + xxi, $34.50. 相似文献
Mari Pangestu, Economic Reform, Deregulation, and Privatization: The Indonesian Experience, Centre for Strategic and International Studies, Jakarta, 1996, pp. vi + 192. Rp 15,000.
Colin Barlow and Joan Hardjono (eds), Indonesia Assessment 1995: Development in Eastern Indonesia, Research School of Pacific and Asian Studies, ANU, Canberra, and Institute of Southeast Asian Studies, Singapore, 1996, pp, xxx + 287. S$29.90; US$25.00; A$25.00.
Kosuke Mizuno, Rural Industrialization in Indonesia: A Case Study of Community-Based Weaving Industry in West Java, IDE Occasional Paper Series no 31, Institute of Developing Economies, Tokyo, 1996, pp. viii + 114. 相似文献
Financial decisions can have lasting consequences for consumer welfare and other important decisions. This review summarizes contemporary literature on financial decision making vis‐à‐vis the promotion of financial well‐being, outlining work on financial behaviors that contribute to financial well‐being, psychosocial determinants of financial well‐being, and the role of situational factors in financial well‐being. In addition to reviewing recent research, this article draws attention to some open questions in the field and proposes a trajectory for productive pathways of future research. 相似文献
Business Economics - What does an economist do at Google? I get this question a lot so I thought this would be a good opportunity to answer it, using illustrations from pricing in ad auctions, the... 相似文献
