Stock Repurchases in Canada: Performance and Strategic Trading Journal Article uri icon

Overview

abstract

  • During the 1980s, U.S. firms announcing stock repurchases earned favorable long‐run returns. Recently, concerns have been raised over the robustness of these findings. This concern comes at a time of explosive growth in repurchase programs. Thus, we study new evidence from the 1990s for 1,060 Canadian repurchase programs. Moreover, because of Canadian law, we can carefully track repurchase activity monthly. Similarly to the situation in the United States, the Canadian stock market discounts the information in repurchase announcements, particularly for value stocks. Completion rates in Canada are sensitive to mispricing. Trades also appear linked to price movements; managers buy more shares when prices fall.

publication date

  • October 1, 2000

Date in CU Experts

  • January 16, 2026 3:45 AM

Full Author List

  • Ikenberry D; Lakonishok J; Vermaelen T

author count

  • 3

Other Profiles

International Standard Serial Number (ISSN)

  • 0022-1082

Electronic International Standard Serial Number (EISSN)

  • 1540-6261

Additional Document Info

start page

  • 2373

end page

  • 2397

volume

  • 55

issue

  • 5