Matches in SemOpenAlex for { <https://semopenalex.org/work/W2241051777> ?p ?o ?g. }
Showing items 1 to 81 of
81
with 100 items per page.
- W2241051777 endingPage "276" @default.
- W2241051777 startingPage "255" @default.
- W2241051777 abstract "Managers have the option to repurchase the stocks by the announcement of an OMR (open market repurchases) if they feel the company’s stock price is undervalued. The market price of the stocks is exchanged for the true value of the stocks and is considered as an exchange option developed by Ikenberry and Vermaelen (1996). However, the announcement of an OMR for listed companies in the TSE (Taiwan Stock Exchange) is distinguished from other stock exchanges in making a simultaneous announcement of the “interval of repurchase price”. Under considering of Taiwan’s law, this paper uses the exchange option to provide the evaluation of an OMR program. Based on the results of numerical analysis, the bigger the gap between the lower limited price and the upper limited price is, the more intense the market response toward the OMR announcement will be. The theoretical lower limited price and the theoretical upper limited price of using the Newton's method to obtain are selection guideline. The major findings in empirical study are as follows: First, investors tend to believe the upper limited price announced by the OMR firms can be achieved, that is, the investors also think that the company’s stock price is undervalued. Second, the interval of repurchase price should be considered by evaluating the exchange option value of OMR announcements. Finally, the cumulated abnormal return on stocks is significant by being different from zero when the actual upper limited price is close to the theoretical upper limited price. Consequently, the theoretical upper limited price of the paper provides a selection guideline to companies making repurchase decisions." @default.
- W2241051777 created "2016-06-24" @default.
- W2241051777 creator A5007181729 @default.
- W2241051777 creator A5016485320 @default.
- W2241051777 creator A5058096991 @default.
- W2241051777 creator A5071355963 @default.
- W2241051777 date "2012-04-01" @default.
- W2241051777 modified "2023-09-23" @default.
- W2241051777 title "Valuation of Open Market Repurchases with Interval Prices: An Application of the Exchange Option" @default.
- W2241051777 hasPublicationYear "2012" @default.
- W2241051777 type Work @default.
- W2241051777 sameAs 2241051777 @default.
- W2241051777 citedByCount "0" @default.
- W2241051777 crossrefType "journal-article" @default.
- W2241051777 hasAuthorship W2241051777A5007181729 @default.
- W2241051777 hasAuthorship W2241051777A5016485320 @default.
- W2241051777 hasAuthorship W2241051777A5058096991 @default.
- W2241051777 hasAuthorship W2241051777A5071355963 @default.
- W2241051777 hasConcept C10138342 @default.
- W2241051777 hasConcept C105795698 @default.
- W2241051777 hasConcept C106159729 @default.
- W2241051777 hasConcept C126285488 @default.
- W2241051777 hasConcept C144133560 @default.
- W2241051777 hasConcept C162324750 @default.
- W2241051777 hasConcept C162889289 @default.
- W2241051777 hasConcept C175444787 @default.
- W2241051777 hasConcept C186027771 @default.
- W2241051777 hasConcept C189722922 @default.
- W2241051777 hasConcept C200870193 @default.
- W2241051777 hasConcept C2776291640 @default.
- W2241051777 hasConcept C33923547 @default.
- W2241051777 hasConcept C34881761 @default.
- W2241051777 hasConcept C556758197 @default.
- W2241051777 hasConcept C64112148 @default.
- W2241051777 hasConceptScore W2241051777C10138342 @default.
- W2241051777 hasConceptScore W2241051777C105795698 @default.
- W2241051777 hasConceptScore W2241051777C106159729 @default.
- W2241051777 hasConceptScore W2241051777C126285488 @default.
- W2241051777 hasConceptScore W2241051777C144133560 @default.
- W2241051777 hasConceptScore W2241051777C162324750 @default.
- W2241051777 hasConceptScore W2241051777C162889289 @default.
- W2241051777 hasConceptScore W2241051777C175444787 @default.
- W2241051777 hasConceptScore W2241051777C186027771 @default.
- W2241051777 hasConceptScore W2241051777C189722922 @default.
- W2241051777 hasConceptScore W2241051777C200870193 @default.
- W2241051777 hasConceptScore W2241051777C2776291640 @default.
- W2241051777 hasConceptScore W2241051777C33923547 @default.
- W2241051777 hasConceptScore W2241051777C34881761 @default.
- W2241051777 hasConceptScore W2241051777C556758197 @default.
- W2241051777 hasConceptScore W2241051777C64112148 @default.
- W2241051777 hasIssue "2" @default.
- W2241051777 hasLocation W22410517771 @default.
- W2241051777 hasOpenAccess W2241051777 @default.
- W2241051777 hasPrimaryLocation W22410517771 @default.
- W2241051777 hasRelatedWork W1542639680 @default.
- W2241051777 hasRelatedWork W1786410513 @default.
- W2241051777 hasRelatedWork W1901589592 @default.
- W2241051777 hasRelatedWork W1982354128 @default.
- W2241051777 hasRelatedWork W2048577995 @default.
- W2241051777 hasRelatedWork W2081315524 @default.
- W2241051777 hasRelatedWork W2327365677 @default.
- W2241051777 hasRelatedWork W2360815712 @default.
- W2241051777 hasRelatedWork W2362767685 @default.
- W2241051777 hasRelatedWork W2371172542 @default.
- W2241051777 hasRelatedWork W2385410087 @default.
- W2241051777 hasRelatedWork W2561036993 @default.
- W2241051777 hasRelatedWork W2616068204 @default.
- W2241051777 hasRelatedWork W2944003614 @default.
- W2241051777 hasRelatedWork W3122662595 @default.
- W2241051777 hasRelatedWork W3125343699 @default.
- W2241051777 hasRelatedWork W3136374688 @default.
- W2241051777 hasRelatedWork W3194040563 @default.
- W2241051777 hasRelatedWork W3202998781 @default.
- W2241051777 hasRelatedWork W780122882 @default.
- W2241051777 hasVolume "19" @default.
- W2241051777 isParatext "false" @default.
- W2241051777 isRetracted "false" @default.
- W2241051777 magId "2241051777" @default.
- W2241051777 workType "article" @default.