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- Title
THE US STOCK MARKET SECTORS OF SHARE REPURCHASES: AN EMPIRICAL ANALYSIS.
- Authors
Said, Hassan A.; Weddington, Ashton
- Abstract
This empirical analysis delves into the relationship between share repurchases and diverse sectors in the US stock market. It aims to uncover patterns in how industries engage in share repurchases and respond to evolving regulations. Using a comprehensive dataset spanning a specific period, the study evaluates the impact of these repurchases on market dynamics and investor behavior. It also examines the interplay between share repurchases, dividends, sector-specific trends, and regulatory changes to enhance our understanding of their implications on stock pricing, investor motivations, and corporate governance across sectors. Using the Bloomberg Professional Service (2019-2023), Bloomberg Terminal data, the study assesses the impact of share repurchase practices across all sectors, with the strongest effects observed in the financial and technology sectors. Notably, share repurchases have a more pronounced impact when companies possess high levels of free cash flow. Additionally, the study evaluates the influence of buyback practices on market dynamics and investor behavior. Overall, this research contributes to a nuanced understanding of how these factors collectively shape the dynamics of the US stock market, offering valuable insights for policymakers, investors, and corporate decision-makers.
- Subjects
REDEMPTION (Law); FINANCIAL markets; STOCK repurchasing; INVESTORS; FREE cash flow; MARKET share; PROFESSIONS
- Publication
Journal of Business & Accounting, 2023, Vol 16, Issue 1, p36
- ISSN
1944-2874
- Publication type
Article