Academic Journal
In search of stock repurchases determinants in listed Indonesian firms during regulatory changes
| العنوان: | In search of stock repurchases determinants in listed Indonesian firms during regulatory changes |
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| المؤلفون: | Moin, Abdul, Guney, Yilmaz, El Kalak, Izidin |
| بيانات النشر: | Elsevier |
| سنة النشر: | 2020 |
| المجموعة: | Cardiff University: ORCA (Online Research @ Cardiff) |
| مصطلحات موضوعية: | HG Finance |
| الوصف: | Motivated by the introduction of share repurchases regulations in 1998 and 2007 coupled with unique characteristics of the Indonesian market, we investigate the effect of firm’s sub-optimal financial position on its share repurchases decisions. Then, we study the effect of these determinants through an exogenous shock, the 2007 regulatory change. We show that sub-optimal financial positions play a role in the corporate share repurchases decisions. Further, we find that the enactment of the regulations has a significant effect on firms’ undertaking share repurchases programs. Unlike the common perception and findings in the literature, we observe that the underpricing of shares has a weak effect on the Indonesian firms’ decisions to repurchase their stocks. Our results hold using several estimation methods that account for potential endogeneity issues. |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | https://orca.cardiff.ac.uk/id/eprint/131650/3/Moin%2Bet%2Bal.,%2B2020_JEBO.pdf; Moin, Abdul, Guney, Yilmaz and El Kalak, Izidin https://orca.cardiff.ac.uk/view/cardiffauthors/A2369056S.html orcid:0000-0002-2992-4042 orcid:0000-0002-2992-4042 2020. In search of stock repurchases determinants in listed Indonesian firms during regulatory changes. Journal of Economic Behavior and Organization 176 , pp. 145-165. 10.1016/j.jebo.2020.04.013 https://doi.org/10.1016/j.jebo.2020.04.013 file https://orca.cardiff.ac.uk/id/eprint/131650/3/Moin%2Bet%2Bal.,%2B2020_JEBO.pdf |
| DOI: | 10.1016/j.jebo.2020.04.013 |
| الاتاحة: | https://orca.cardiff.ac.uk/id/eprint/131650/ https://doi.org/10.1016/j.jebo.2020.04.013 https://orca.cardiff.ac.uk/id/eprint/131650/3/Moin%2Bet%2Bal.,%2B2020_JEBO.pdf |
| Rights: | cc_by_nc_nd |
| رقم الانضمام: | edsbas.328A5B68 |
| قاعدة البيانات: | BASE |
| DOI: | 10.1016/j.jebo.2020.04.013 |
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