Accéder directement au contenu Accéder directement à la navigation
Nouvelle interface
Article dans une revue

An overview of share buybacks: A descriptive case from Malaysia

Abstract : This paper reviews the trends and motivations of share buyback programs and highlights the different hypotheses that motivate companies to repurchase their shares. It then explores the share buyback phenomena among Malaysian listed firms during the years from 2010 to 2015. The paper also investigates whether the Malaysian listed firms use share buyback programs to manage their earnings. Based on our manually collected data, we find that 836 firms engage in share buybacks during the period from 2010 to 2015. We employ the criteria of Hribar et al. (2006) to check whether share buyback strategies were used to manipulate earnings per share (i.e. accretive share buyback). We find that more than 75% of firms engage in accretive share buybacks at least one time during the period. Specifically, those firms undertake 637 accretive share buybacks with a value of RM 7.650 billion. This paper contributes to a better understanding of share buyback strategies in general and accretive share buybacks in the Malaysian context. Finally, our findings provide a reference point for relevant parties to improve the applicable regulations of share buyback schemes.
Type de document :
Article dans une revue
Liste complète des métadonnées

https://hal-rennes-sb.archives-ouvertes.fr/hal-03163882
Contributeur : Accord Elsevier CCSD Connectez-vous pour contacter le contributeur
Soumis le : lundi 21 novembre 2022 - 10:12:29
Dernière modification le : lundi 21 novembre 2022 - 10:12:30

Fichier

S2214635020303427.pdf
Fichiers produits par l'(les) auteur(s)

Licence


Distributed under a Creative Commons Paternité - Pas d'utilisation commerciale 4.0 International License

Identifiants

Collections

Citation

Abdulsalam Alquhaif, Bakr Al-Gamrh, Rohaida Abdul Latif. An overview of share buybacks: A descriptive case from Malaysia. Journal of Behavioral and Experimental Finance, 2020, 28, pp.100415. ⟨10.1016/j.jbef.2020.100415⟩. ⟨hal-03163882⟩

Partager

Métriques

Consultations de la notice

0

Téléchargements de fichiers

0