Long-Term Performance of Buybacks in India

Jayanta Kumar Seal and Jasbir Singh Matharu

Global Business Review, 2018, vol. 19, issue 6, 1554-1566

Abstract: This study tries to find out the post-announcement performance of the buyback firms over the long term in India using data from the Bombay Stock Exchange (BSE). We have chosen the event study methodology and compared the performance for a one-year, a three-year, and a five-year period. The benchmarks chosen are the Sensex, the BSE 500, the size matched firms and the size and industry matched firms. The findings of the study show overperformance by buyback firms when compared to the Sensex and the BSE 500 but no conclusion can be drawn when compared to the size matched firms and size and industry matched firms.

Keywords: Share buybacks; tender offers; open market offers; event study; long run abnormal returns (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:19:y:2018:i:6:p:1554-1566

DOI: 10.1177/0972150918794737

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