Share repurchases under uncertainty: US evidence

PİRGAİP B., Dincergok B.

FINANCE RESEARCH LETTERS, cilt.30, ss.130-138, 2019 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 30
  • Basım Tarihi: 2019
  • Doi Numarası: 10.1016/j.frl.2019.03.036
  • Dergi Adı: FINANCE RESEARCH LETTERS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.130-138
  • Anahtar Kelimeler: Share repurchase, Economic policy uncertainty, Payout policy, Panel data analysis, POLITICAL UNCERTAINTY, INFORMATION-CONTENT, POLICY UNCERTAINTY, STOCK REPURCHASES, DIVIDENDS, FIRMS, RISK
  • Hacettepe Üniversitesi Adresli: Evet

Özet

We examine the impact of economic policy uncertainty as measured by Baker et al. (2016) on share repurchase activity in the U.S. market. We employ panel analyses with 2258 firms between 1990 and 2017 using a quarterly dataset. Our findings reveal that firm managers tend to make less or no repurchases under high level of uncertainty in the economy.