Timing stock repurchases pays
ANN ARBOR — Can companies buying back their own stock time the market to get a better price? This was an unanswered question in corporate finance until now.
New research from University of Michigan finance professor Amy Dittmar indicates that some companies do time their repurchases to buy at a low price. It’s a way companies can make a shareholder-friendly move and a positive return on an investment. (more…)