Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis | Zendy

Hong Bing Wang | Zendy; Ai Hua Jin | Zendy; Hai Yun Yu | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis

Author(s) -

Hong Bing Wang,

Ai Hua Jin,

Hai Yun Yu

Publication year - 2021

Publication title -

advances in mathematical physics

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.283

H-Index - 23

eISSN - 1687-9139

pISSN - 1687-9120

DOI - 10.1155/2021/5975325

Subject(s) - business , shareholder , stock (firearms) , econometrics , finance , mathematics , corporate governance , mechanical engineering , engineering

This paper takes the stock repurchase cases in 2018-2019 after the promulgation of the New Company Law as the research object. Using the qualitative comparative analysis method and PSO-ICA-GARCH model, we analyze the influencing factors of the stock repurchase announcement market reaction. Through the analysis of the degree of premium (DP), repurchase ratio (RR), natural logarithm of total assets (LAS), return on net assets (ROE), top 10 shareholder equity ratio (CR10), and executive shareholding ratio (MSL), it is found that the paths of high CAR stock repurchase effect include repurchase clause-oriented type and centralization-proportional matching type; the path of nonhigh CAR stock repurchase effect includes size-premium limit type, profit-proportion limit type, and repurchase clause limit type. Compared with GARCH model, it has higher separation accuracy and more accurate model prediction effect.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research