Stock repurchases by US companies experienced a remarkable surge in the 1980s and ‘90s.
Indeed, in 1998, the total value of all stock repurchased by US companies exceeded for …

We observe significant post-split excess returns of 7.93 percent in the first year and 12.15
percent in the first three years for a sample of 1,275 two-for-one stock splits. These excess …

It is well known that stock returns, on average, are negative on Mondays. Yet, it is less well
known that this finding is substantially the consequence of returns in prior trading sessions. …

During the last two decades of the 20th century, the propensity of US companies to pay cash
dividends declined significantly. The trend away from dividends accelerated during the late …

An emerging literature looking at self-selected, corporate news events concludes that
markets appear to underreact to news. Recent theoretical articles have explored why or how …

After firms move trading in their stock to the American or New York Stock Exchanges, stock
returns are generally poor. Although many listing firms issue equity around the time of listing, …

… To test some specific predictions of the model, we obtained the open market share repurchase
announcement sample of Ikenberry, Lakonishok, and Vermaelen (1995). Their sample …

A rich literature argues that stock repurchases often serve as positive economic signals
beneficial to investors. Yet due to their inherent flexibility, open-market repurchase programs …

… BY DAVID LAWRENCE IKENBERRY BS, The Pennsylvania State University, 1983 …
Ikenberry, and the extraordinary love, patience and understanding of my wife, Nancy P. Ikenberry, …

A contentious debate exists over whether executives possess market timing skills when
announcing certain corporate transactions. Pseudo-market timing, however, has recently …