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dc.contributor.authorHenderson, Georgeen_NZ
dc.identifier.citationHenderson, G. (2000). Open market share repurchases in New Zealand (Thesis). Retrieved from
dc.description.abstractWhen a firm repurchases its own common stock, it buys back a proportion of its own equity from existing shareholders. For open market transactions the stock is acquired at market value and in an efficient market the transfer should not change shareholders' wealth. However, empirically, such corporate activity in American markets is generally associated with stock price increases and, consequently, increases in remaining shareholder wealth. The purpose of this study is to examine the effect of open market share repurchases on the share price of New Zealand firms. If any abnormal returns are identified then the hypotheses suggested by American studies will be investigated to see which, if any, hold for the New Zealand case.en_NZ
dc.subjectStock repurchaseen_NZ
dc.subjectmarket valueen_NZ
dc.subjectshareholder wealthen_NZ
dc.subjectNew Zealanden_NZ
dc.subjectefficient marketen_NZ
dc.subject.lcshHF Commerceen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.subject.lcshHG Financeen_NZ
dc.titleOpen market share repurchases in New Zealanden_NZ
otago.schoolFinanceen_NZ of Otagoen_NZ Thesesen_NZ
otago.openaccessAbstract Only
dc.identifier.eprints584en_NZ & Quantitative Analysisen_NZ
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