Stock Repurchases in Canada: Performance and Strategic Trading

By David L. Ikenberry, Josef Lakonishok, T. Vermaelen. 2000

481 citations recorded by the source corpus.

Subfields: Accounting

View Paper: https://www.semanticscholar.org/paper/bbb975cc5b85e47be72eef2dc265bac4f9a36ad3

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Amy X. Sun
2. Henock Louis
3. Guojin Gong
4. K. Chan
5. D. Ikenberry
6. L. Field
7. I. Lee
8. Amy K. Dittmar

Citations in the corpus

• The Effect of Issuer Conservatism on IPO Pricing and Performance (2013, unknown): “To test this hypothesis, we employ the calendar-time portfolio regression approach of Ikenberry et al. (2000). Specifically, we form portfolios of firms that have completed an IPO during 1999-2005 and place them in a portfolio for a three-year holding period.”
• Presidential Address: Social Transmission Bias in Economics and Finance (2020, unknown): “…and then has long-horizon downward drift, whereas when b 0, on average the price jumps on the event date and has a long-run upward return drift—is consistent with the new issues puzzle (Loughran and Ritter (1995)) and the repurchase anomaly (Ikenberry, Lakonishok, and Vermaelen (1995, 2000)).”
• The long-run performance of mergers and acquisitions: Evidence from the Canadian Stock market (2004, unknown): “Kothari and Warner (1997), Barber and Lyon (1997), Lyon, Barber, and Tsai (1999), Jegadeesh (2000), Brav (2000), and Mitchell and Stafford (2000) note the difficulties raised by the cross-sectional dependence of sample returns when measured over long horizons.”
• Earnings Management and Firm Performance Following Open-Market Repurchases (2008, background): “Consistent with Ikenberry, Lakonishok, and Vermaelen (1995, 2000), we find significantly positive average abnormal returns over the one- and two-year periods after the repurchase announcement.”
• Do managers time the market? Evidence from open-market share repurchases (2007, background): “Conversely, Ikenberry et al. (1995) and Ikenberry et al. (2000) find that firms which announce their intention to engage in the opposite transaction by initiating a share repurchase program tend to experience positive long-run abnormal stock performance.”
• How Does Dividend Policy Affect Firm Performance? A Ghanaian Case (2017, unknown): “Ikenberry, Lakonishok, and Vermaelen (1995, 2000) have also analyzed the long-run performance of US and Canadian companies after share buy-backs.”
• Share Issuance and Cross-Sectional Returns: International Evidence (2009, unknown): “1 Ikenberry, Lakonishok, and Vermaelen (2000) find evidence of low abnormal returns following both seasoned equity offerings and stock-financed mergers in Canada.”
• On the Timing and Execution of Open Market Repurchases (2000, unknown): “Ikenberry, Lakonishok, and Vermaelen (2000) document that ¯rms increase repurchasing in months following price drops for a set of Canadian ¯rms. Stephens and Weisbach (1998) examine quarterly repurchase volume in the United States and ¯nd that it is negatively related to prior returns and is…”