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You searched for +publisher:"University of Saskatchewan" +contributor:("Mishra, Dev R."). Showing records 1 – 3 of 3 total matches.

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University of Saskatchewan

1. Schmidt, Luke. Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs.

Degree: 2006, University of Saskatchewan

Firms that announce open-market share repurchase programs are not obligated to follow through in the actual acquisition of shares. In fact, we find that the majority of firms fail to acquire the target number of shares specified at announcement and many firms fail to repurchase any shares at all. Therefore, the announcement of a share repurchase program has a degree of uncertainty regarding the announcing firm’s credibility. This study examines the possibility that market participants evaluate the credibility of a firm’s share repurchase announcement based on the firm’s previous share repurchase history. We examine 1,507 share repurchase programs for firms listed on the Toronto Stock Exchange (TSX) from 1995 to 2005 and find that firms that have completed a higher proportion of previous share repurchase programs experience larger abnormal returns on the announcement of subsequent repurchase programs. Therefore, we conclude that the market reacts more favorably to the share repurchase announcements of credible firms compared to firms that lack credibility. Advisors/Committee Members: Racine, Marie, Mishra, Dev R., Tannous, George, Entwistle, Gary.

Subjects/Keywords: stock buyback; stock repurchase; share repurchase; payout policy

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APA (6th Edition):

Schmidt, L. (2006). Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs. (Thesis). University of Saskatchewan. Retrieved from http://hdl.handle.net/10388/etd-11022006-145120

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Schmidt, Luke. “Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs.” 2006. Thesis, University of Saskatchewan. Accessed October 21, 2019. http://hdl.handle.net/10388/etd-11022006-145120.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Schmidt, Luke. “Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs.” 2006. Web. 21 Oct 2019.

Vancouver:

Schmidt L. Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs. [Internet] [Thesis]. University of Saskatchewan; 2006. [cited 2019 Oct 21]. Available from: http://hdl.handle.net/10388/etd-11022006-145120.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Schmidt L. Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs. [Thesis]. University of Saskatchewan; 2006. Available from: http://hdl.handle.net/10388/etd-11022006-145120

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


University of Saskatchewan

2. Komlenovic, Srdan. Aggregate merger activity and the business cycle.

Degree: 2008, University of Saskatchewan

This study examines macroeconomic and industry-level factors (with particular emphasis on the business cycle) on industry-level merger activity. In a sample of US mergers from 1979 to 2006, we find that industry level mergers are highly pro-cyclical. The business cycle has a positive and significant impact on both horizontal and non-horizontal mergers, even after controlling for other macroeconomic and industry-level effects. Although macroeconomic variables have similar effects on both horizontal and non-horizontal mergers, industry-level factors vary significantly between the two types of mergers. Horizontal mergers are much more aligned with neo-classical theories, while non-horizontal mergers are more affected by financing constraints and overvaluation. We also find that the determinants and financing preferences of industry-level mergers vary greatly across the business cycle stages, which suggests that the motivation for mergers changes in different economic conditions. Advisors/Committee Members: Mishra, Dev R., Mamun, Abdullah, Haque, Mahfuzul, Racine, Marie.

Subjects/Keywords: business cycle; merger waves; acquisitions; mergers

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Komlenovic, S. (2008). Aggregate merger activity and the business cycle. (Thesis). University of Saskatchewan. Retrieved from http://hdl.handle.net/10388/etd-09192008-120854

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Komlenovic, Srdan. “Aggregate merger activity and the business cycle.” 2008. Thesis, University of Saskatchewan. Accessed October 21, 2019. http://hdl.handle.net/10388/etd-09192008-120854.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Komlenovic, Srdan. “Aggregate merger activity and the business cycle.” 2008. Web. 21 Oct 2019.

Vancouver:

Komlenovic S. Aggregate merger activity and the business cycle. [Internet] [Thesis]. University of Saskatchewan; 2008. [cited 2019 Oct 21]. Available from: http://hdl.handle.net/10388/etd-09192008-120854.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Komlenovic S. Aggregate merger activity and the business cycle. [Thesis]. University of Saskatchewan; 2008. Available from: http://hdl.handle.net/10388/etd-09192008-120854

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


University of Saskatchewan

3. Leung, Joanne. Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs.

Degree: 2008, University of Saskatchewan

Securities legislation in Canada and around the world does not mandate firms to fulfill announced share repurchase programs. As such, a firm’s repurchase program completion rate can be interpreted as a measure of the firm’s voluntary compliance, which communicates to investors the degree to which the firm is responsible, reliable and makes good faith efforts to fulfill its announced programs. We therefore expect that the voluntary compliance may reduce the riskiness of a firm and thus its cost of capital. In a sample of Canadian repurchase programs announced between 1995 and 2004, surprisingly, we find little evidence to suggest that a significant relationship exists between the firm’s repurchase program completion rate and the cost of equity. We present a number of explanations for this result. Advisors/Committee Members: Mishra, Dev R., Racine, Marie, Mamun, Abdullah, Kalagnanam, Suresh.

Subjects/Keywords: voluntary compliance; share repurchases; implied cost of capital

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Leung, J. (2008). Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs. (Thesis). University of Saskatchewan. Retrieved from http://hdl.handle.net/10388/etd-09162008-024054

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Leung, Joanne. “Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs.” 2008. Thesis, University of Saskatchewan. Accessed October 21, 2019. http://hdl.handle.net/10388/etd-09162008-024054.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Leung, Joanne. “Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs.” 2008. Web. 21 Oct 2019.

Vancouver:

Leung J. Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs. [Internet] [Thesis]. University of Saskatchewan; 2008. [cited 2019 Oct 21]. Available from: http://hdl.handle.net/10388/etd-09162008-024054.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Leung J. Voluntary compliance and implied cost of equity capital : evidence from Canadian share repurchase programs. [Thesis]. University of Saskatchewan; 2008. Available from: http://hdl.handle.net/10388/etd-09162008-024054

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

.