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BEGIN:VEVENT
UID:e4b99c7ba7a9d7b203ed4a79cfc76b67
CATEGORIES:Seminars
CREATED:20230901T082716
SUMMARY:Lunch Seminar: Jacob Oded - Tel Aviv University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p>Why Do Firms Repurchase Their Overpriced Shares?</p><p>Abstract:</p><p s
 tyle="text-align: justify;">Firms are commonly assumed to repurchase their 
 shares to signal they are underpriced (undervalued) or to take advantage of
  underpricing to enhance share value. However, recent empirical evidence in
 dicates that actual repurchases are often performed when the stock is overp
 riced. This paper explains why firms may repurchase overpriced shares and c
 haracterizes the situations in which this is likely to happen. We suggest t
 hat insiders' benefits from waste of free cash have a substantial impact on
  the decision to repurchase and highlight the importance of having good cor
 porate governance in place when managers get approval from the board to rep
 urchase stock.</p>
DTSTAMP:20260426T160200Z
DTSTART:20230920T130000Z
DTEND:20230920T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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