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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/117565

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/117565

Title:	Does Labor Power Affect the Likelihood of a Share Repurchase?
Authors:	陳聖賢 Chen, Sheng-Syan Chen, Yan-Shing Wang, Yanzhi
Contributors:	財管系
Date:	2015
Issue Date:	2018-06-11 17:52:46 (UTC+8)
Abstract:	This research examines the impact of labor power on the firm`s repurchase decisions. Firms facing stronger labor power repurchase fewer shares, suggesting that, on average, repurchases are against the interests of labor. However, the negative effect of labor power on repurchases is significantly reduced when repurchases benefit employees by fending off an unwanted takeover or countering the dilution effects of employee stock options. We also examine the ex post consequences of share repurchases. Repurchases are positively related to the probability of a strike. Repurchase announcement returns and the operating performance of repurchasing firms are negatively related to labor power.
Relation:	Financial Management, Vol.44, No.3, pp.623-653
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1111/fima.12072
DOI:	10.1111/fima.12072
Appears in Collections:	[財務管理學系] 期刊論文

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