Share repurchases under uncertainty: U.S. evidence

Burak Pirgaip and Burcu Dinçergök

Finance Research Letters, 2019, vol. 30, issue C, 130-138

Abstract: 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.

Keywords: Share repurchase; Economic policy uncertainty; Payout policy; Panel data analysis (search for similar items in EconPapers)
JEL-codes: E44 E60 G32 G35 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:30:y:2019:i:c:p:130-138

DOI: 10.1016/j.frl.2019.03.036

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