Stock Repurchases A Sustainable Fashion?

The academic research and the practicing of corporate
finance are more challenging and exciting than ever
before. The last decade has seen fundamental changes
in financial markets and financial instruments
before the current global depression and indeed
afterwards. On one hand, the changing world of
financial markets including the corporate payout
policy makes it more difficult to keep expertise up
to date. On the other hand one has to distinguish the
permanent from the temporary and avoid the temptation
to following fads.
Since 2000 share repurchases have been legalized in
Sweden, with the purpose to provide companies a
profitable way to distribute capital. After
announcing buybacks, companies are subject to
uncertainty concerning investor s reaction and
economic consequences. This book analyzes if share
repurchases have been developed as a common used
financial instrument within the Swedish capital
market by verified statements and quantitative
findings. Furthermore this fundamental investigation
deals with a wide range of financial indicators for
explaining underlying economic conditions for
repurchasing own outstanding shares on a sustainable
level.

Autorentext

[L. Schorr, M.Sc., Study of Business Administration,University of Würzburg, Germany; Study of Accounting andFinance, School of Business Umeå, Sweden.] [J. Larsson, M.Sc., Study of Business Administration, MidSwedenUniversity Sundsvall, Sweden; Studyof Accounting and Finance, School of Business Umeå, Sweden.]

Klappentext

The academic research and the practicing of corporatefinance are more challenging and exciting than everbefore. The last decade has seen fundamental changesin financial markets and financial instruments -before the current global depression - and indeedafterwards. On one hand, the changing world offinancial markets including the corporate payoutpolicy makes it more difficult to keep expertise upto date. On the other hand one has to distinguish thepermanent from the temporary and avoid the temptationto following fads. Since 2000 share repurchases have been legalized inSweden, with the purpose to provide companies aprofitable way to distribute capital. Afterannouncing buybacks, companies are subject touncertainty concerning investor´s reaction andeconomic consequences. This book analyzes if sharerepurchases have been developed as a common usedfinancial instrument within the Swedish capitalmarket by verified statements and quantitativefindings. Furthermore this fundamental investigationdeals with a wide range of financial indicators forexplaining underlying economic conditions forrepurchasing own outstanding shares on a sustainablelevel.