Tuck Contemporary Corporate Governance Issues最新文献

筛选

英文中文

The Next, Great, Corporate Scandal: Potential Liability of Corporations Engaged in Open Market, 10b-18 Buybacks; a Minority View; Case Histories; Summary of Published Studies; Direction of Future Research 下一个重大的公司丑闻:参与公开市场的公司的潜在责任，10 -18回购a少数人观点;案例记录;已发表研究综述;未来研究方向

Tuck Contemporary Corporate Governance Issues Pub Date : 2006-09-07 DOI: 10.2139/SSRN.927111

M. Gumport

{"title":"The Next, Great, Corporate Scandal: Potential Liability of Corporations Engaged in Open Market, 10b-18 Buybacks; a Minority View; Case Histories; Summary of Published Studies; Direction of Future Research","authors":"M. Gumport","doi":"10.2139/SSRN.927111","DOIUrl":"https://doi.org/10.2139/SSRN.927111","url":null,"abstract":"Abstract: In 2006, U.S. corporate stock buybacks by S&P 500 companies are expected to exceed $400 billion with 95% conducted through \"open market\" transactions. Buybacks now account for nearly 70% of corporate cash distributions, squeezing dividend growth. The growth, size and method of execution of buybacks have attracted the attention of academics and practitioners, and consensus on buyback governance risk is shifting. Financial studies indicate buybacks in the 1960's signaled improved future operating results and undervaluation, later were used to optimize capital structure, but now largely are offsets to executive options. The link of buybacks to option grants underscores the potential for governance review. Legal studies debate the propriety of buybacks, and litigators consider the potential for liability to attach to buybacks. Drafters of 10b-18 (buyback safe harbor) report no significant enforcement activity against firms engaged in stock buybacks, but, with governance consensus in flux, and with U.S. buyback regulations among the world's least restrictive, buyback programs should be reevaluated to assure conformance to changing standards of best practices.","PeriodicalId":409578,"journal":{"name":"Tuck Contemporary Corporate Governance Issues","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132780803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Tuck-Jfqa Contemporary Corporate Governance Issues Ii: International Corporate Governance Conference Program, July 12-13, 2002 当代公司治理问题:国际公司治理学术研讨会论文集，2002年7月12-13日

Tuck Contemporary Corporate Governance Issues Pub Date : 2002-08-15 DOI: 10.2139/SSRN.323902

B. Eckbo

引用次数: 1

How Much Value Can Blockholders Tunnel? Evidence from the Bulgarian Mass Privatization Auctions 区块链持有者可以挖掘多少价值?来自保加利亚大规模私有化拍卖的证据

Tuck Contemporary Corporate Governance Issues Pub Date : 2002-04-28 DOI: 10.2139/ssrn.283601

V. Atanasov

引用次数: 131