Motivations et valorisation boursiere des rachats d'actions des entreprises tunisiennes

Samir Abderrazek Srairi
{"title":"Motivations et valorisation boursiere des rachats d'actions des entreprises tunisiennes","authors":"Samir Abderrazek Srairi","doi":"10.1016/S1999-7620(09)70019-9","DOIUrl":null,"url":null,"abstract":"<div><p>With the drop of the Tunisian financial market, many companies have engaged in a process of share repurchase. This strategy raises many questions: What justifies the repurchase of shares? How does the financial market react when a share repurchase program is announced and implemented? An investigation of companies that have carried out such programs has revealed that the main purpose of this strategy is to signal to the market that the shares are undervalued. The results of event study also indicate that the stock market, in the first days of event, has reacted more positively to the implementation (CAAR=7.35%) than it is the case with the announcement (CAAR = 4.36%) of the programs.<span></span></p></div>","PeriodicalId":101135,"journal":{"name":"Revue Libanaise de Gestion et d'économie","volume":"2 3","pages":"Pages 151-180"},"PeriodicalIF":0.0000,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S1999-7620(09)70019-9","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Revue Libanaise de Gestion et d'économie","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1999762009700199","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1

Abstract

With the drop of the Tunisian financial market, many companies have engaged in a process of share repurchase. This strategy raises many questions: What justifies the repurchase of shares? How does the financial market react when a share repurchase program is announced and implemented? An investigation of companies that have carried out such programs has revealed that the main purpose of this strategy is to signal to the market that the shares are undervalued. The results of event study also indicate that the stock market, in the first days of event, has reacted more positively to the implementation (CAAR=7.35%) than it is the case with the announcement (CAAR = 4.36%) of the programs.

查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
突尼斯公司股票回购的动机和市场估值
随着突尼斯金融市场的下跌,许多公司都进行了股票回购。这一策略引发了许多问题:回购股票的理由是什么?当股票回购计划宣布并实施时,金融市场会有什么反应?一项对实施此类计划的公司的调查显示,这种策略的主要目的是向市场发出股票被低估的信号。事件研究的结果还表明,在事件发生的头几天,股市对计划实施(CAAR=7.35%)的反应比计划宣布(CAAR= 4.36%)更为积极。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
L’implication organisationnelle : levier pour la performance financière ? Une étude dans le contexte tunisien Contribution de la qualité relationnelle à la fidélité des consommateurs et au choix du point de vente Contraintes Financieres Et Comportement D’Investissement: Cas Des Entreprises Tunisiennes L’impact des facteurs socio-économiques sur le financement des micro-projets par la Banque Tunisienne de Solidarité : Cas de la Tunisie L’intention entrepreneuriale des jeunes diplômés
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1