Artikel
Why do closed-end funds repurchase stock?
With special institutional characteristics and regulatory requirements, what factors can motivate UK closed-end funds to engage in open-market repurchases? Investigating repurchase transactions on financial-year basis, I find that funds repurchase shares to reduce discounts and to increase the net asset value per share, as directors claim, but not to increase fund liquidity. I also find that funds repurchase shares to increase leverage ratios. Unlike conventional firms, neither distributing excess cash nor substituting dividend payouts promote fund repurchases. Fund size has a negative effect on repurchase decision.
- Sprache
-
Englisch
- Erschienen in
-
Journal: South African Journal of Business Management ; ISSN: 2078-5976 ; Volume: 49 ; Year: 2018 ; Issue: 1 ; Pages: 1-9 ; Cape Town: African Online Scientific Information Systems (AOSIS)
- Klassifikation
-
Management
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Yang, Tianna
- Ereignis
-
Veröffentlichung
- (wer)
-
African Online Scientific Information Systems (AOSIS)
- (wo)
-
Cape Town
- (wann)
-
2018
- DOI
-
doi:10.4102/sajbm.v49i1.14
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Yang, Tianna
- African Online Scientific Information Systems (AOSIS)
Entstanden
- 2018
Ähnliche Objekte (12)
Investor irrationality and closed-end hedge funds
Closed-end funds and discount control mechanisms
Closed-end funds and discount control mechanisms
Mispricing Explanations of Closed-End Funds: A Survey Review
Why do mutual funds hold lottery stocks?
Deviations from fundamental value and future closed-end country fund returns
Exploring the diversification benefits of US international equity closed-end funds
Closed-end Funds verstehen und bewerten : mit börsennotierten Investmentfonds zum globalen Einkommensstrom
Portfolio performance, discount dynamics, and the turnover of closed-end fund managers
Signaling or marketing? The role of discount control mechanisms in closed-end funds
Signaling or marketing? the role of discount control mechanisms in closed-end funds
Governance and shareholder value in delegated portfolio management: The case of closed-end funds
Investor irrationality and closed-end hedge funds
Closed-end funds and discount control mechanisms
Closed-end funds and discount control mechanisms
Mispricing Explanations of Closed-End Funds: A Survey Review
Why do mutual funds hold lottery stocks?
Deviations from fundamental value and future closed-end country fund returns
Exploring the diversification benefits of US international equity closed-end funds
Closed-end Funds verstehen und bewerten : mit börsennotierten Investmentfonds zum globalen Einkommensstrom
Portfolio performance, discount dynamics, and the turnover of closed-end fund managers
Signaling or marketing? The role of discount control mechanisms in closed-end funds
Signaling or marketing? the role of discount control mechanisms in closed-end funds
Governance and shareholder value in delegated portfolio management: The case of closed-end funds
Investor irrationality and closed-end hedge funds
Closed-end funds and discount control mechanisms
Closed-end funds and discount control mechanisms
Mispricing Explanations of Closed-End Funds: A Survey Review
Why do mutual funds hold lottery stocks?
Deviations from fundamental value and future closed-end country fund returns
Exploring the diversification benefits of US international equity closed-end funds
Closed-end Funds verstehen und bewerten : mit börsennotierten Investmentfonds zum globalen Einkommensstrom
Portfolio performance, discount dynamics, and the turnover of closed-end fund managers
Signaling or marketing? The role of discount control mechanisms in closed-end funds
Signaling or marketing? the role of discount control mechanisms in closed-end funds