Share repurchases and short sales under ambiguity
We examine corporate pay out policies in a setting with short sales where investors face ambiguity about firms’ cash flows. We show that firms use share repurchases and a combination of share repurchases and dividend payments to fight short sales. © 2019 The Author
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| Format: | Article |
| Language: | English |
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Elsevier B.V.
2019
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| Online Access: | View Fulltext in Publisher |