Short-term wealth effects from debt buyback announcements: Applied Economics Letters: Vol 17, No 14

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Abstract

This study provides evidence that, as with stock buyback announcements, investors believe that debt buyback announcements signal good news about the future cash flows of the announcing firm. This information is contained in the stock price reaction on the announcement date. On average, the firms sampled experienced an average 5.51% increase in their stock price on the day their plans to repurchase debt were announced in the financial media.

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Short-term wealth effects from debt buyback announcements

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Short-term wealth effects from debt buyback announcements

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