期刊論文
| 學年 | 110 |
|---|---|
| 學期 | 2 |
| 出版（發表）日期 | 2022-06-01 |
| 作品名稱 | Firm performance following actual share repurchases: Effects of investment crowding out and financial flexibility |
| 作品名稱（其他語言） | |
| 著者 | Ching-Hsiang Chao; Chih-Jen Huang |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | Pacific-Basin Finance Journal 73, 101738 |
| 摘要 | In this paper, we analyze the effects of abnormal capital investment and financial flexibility on firm performance following actual share repurchases by using a unique Taiwanese dataset. The results indicate that superior operational performance is associated with share repurchases; however, share repurchases may crowd out required capital investments. Further examination reveals that firms with adequate financial flexibility outperform firms with inadequate financial flexibility after actual share repurchases. In summary, our findings suggest that financial flexibility can mitigate the investment crowding out effect and positively affect firms' operational performance post-repurchase. |
| 關鍵字 | Actual share repurchase;Financial flexibility;Investment;Operational performance |
| 語言 | en |
| ISSN | 0927-538X |
| 期刊性質 | 國外 |
| 收錄於 | SSCI |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 是 |
| 國別 | NLD |
| 公開徵稿 | |
| 出版型式 | ,電子版,紙本 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/122904 ) |