The effect of share repurchases on corporate investment policies: The South African experience
作者: Nicolene WessonMerwe Johan Botha
作者单位: 1Stellenbosch University Business School, Stellenbosch University, Stellenbosch
刊名: Acta Commercii, 2019, Vol.19 (1), pp.e1-e11
来源数据库: African Online Scientific Information System PTY Ltd
DOI: 10.4102/ac.v19i1.732
关键词: Share repurchaseShare buy backInvestmentEmploymentResearch and development
原始语种摘要: Orientation: The study analysed the investment behaviour of companies that enter into share repurchases.Research purpose: The study examined the effect of share repurchases on corporate investment policies for companies listed on the Johannesburg Stock Exchange (JSE).Motivation for the study: Empirical evidence suggests that companies repurchasing shares subsequently reduce their investment in employment, capital, and research and development. South Africa is a developing country with slow economic growth and high unemployment rates. Share repurchases have increased over time, but studies have not yet analysed the effect of share repurchases on investment policies in this country.Research design, approach and method: The study applied a panel regression analysis technique to establish the...
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关键词翻译
关键词翻译
  • share 分配
  • corporate 法人的
  • investment 投资
  • repurchase 购回
  • African 非洲的
  • unemployment 失业
  • listed 坏布边
  • country 地方
  • effect 效应
  • expenditure 支出