Research on the Stock Repurchase Motivation of Chinese Listed Companies
Stock repurchase means the behavior of the listed companies which repurchase outstanding stock by some way.It has many functions, like optimizing the capital structure of companies, improving the management of companies.It has been the important way of capital operation and the policy of dividend distribution in abroad of listed companies.In terms of the research in stock repurchases motivation, there are many classic theories, such as signal transmission theory, flee cash flow theory, and the theory of tax burden.With the stock repurchases practical situation of listed companies in our country, this article adopts multiple regression analysis to test the applicability of the classic stock repurchase theory in our country.The research results of the motivation shows that EPS theory and signal transmission theory has good explanation strength in our country, and other theories explanation strength is lower.
listed companies stock repurchase repurchase motivation
Yang Li
Business School, Sichuan University, Chengdu, P.R.China, 610064
国际会议
2013 International Conference on Strategic Management(2013年战略管理国际会议)
成都
英文
629-634
2013-12-15（万方平台首次上网日期，不代表论文的发表时间）