Share repurchase and cash holdings: Evidence from China

Linlin Ye, Zejun Wang and He Ren

International Review of Economics & Finance, 2024, vol. 96, issue PB

Abstract: This paper empirically examines the impact of share repurchase on corporate cash holding decisions by selecting A sample of stock repurchase of A-share listed companies in Shanghai and Shenzhen from 2007 to 2020. The results show that share repurchase can reduce the level of corporate cash holdings, and there is heterogeneity in financing constraints, dividend distribution and investment opportunities.

Keywords: Share repurchase; Cash holdings; Financing constraints; Dividend distribution; Investment opportunities (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:96:y:2024:i:pb:s1059056024005604

DOI: 10.1016/j.iref.2024.103568

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