TY  - JOUR
AB  - It is well established in academic literature that self‐tender offers and corporate dividends can be used independently to effectively signal firm value. It is unclear, however, whether these two forms of earnings distributions can be used simultaneously. This paper is an empirical examination of the relationship between dutch auction repurchases and corporate dividend policy. This research indicates that a substantial number of firms choose to repurchase their shares in the form of dutch auctions between dividend payments. Because signalling is a likely motivation for both repurchases and cash dividends, these two events may not be independent of each other. The results of this study confirm positive stock market reaction to repurchase announcements and that firm prediction errors are significantly related to signaling variables.
VL  - 26
IS  - 8
SN  - 0307-4358
DO  - 10.1108/03074350010766828
UR  - https://doi.org/10.1108/03074350010766828
AU  - Forjan James
AU  - Durr David
AU  - Thesis John
PY  - 2000
Y1  - 2000/01/01
TI  - An investigation of the relationship between Dutch auction repurchase tender offers and cash dividend payments
T2  - Managerial Finance
PB  - MCB UP Ltd
SP  - 29
EP  - 40
Y2  - 2024/04/23
ER  -