Impact of Buyback of Shares on Firm Value: An Empirical Evidence from India

被引：3
|
作者：
Bhullar, Pritpal Singh [1 ]
Bhatnagar, Dyal [2 ]
Gupta, Pradeep [3 ]
机构：
[1] Maharaja Ranjit Singh Punjab Tech Univ, Univ Business Sch, Bathinda, Punjab, India
[2] Punjabi Univ, Univ Sch Business Studies, Guru Kashi Campus, Patiala, Punjab, India
[3] TIET Deemed Be Univ, LM Thapar Sch Management, Patiala, Punjab, India
来源：
IRANIAN JOURNAL OF MANAGEMENT STUDIES | 2018年 / 11卷 / 03期
关键词：
Buyback of shares; enterprise value; firm value; capital employed;
D O I：
10.22059/ijms.2018.246143.672914
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
The present study examines the impact of capital employed in buyback of shares on firm value for 180 firms listed in the Bombay Stock Exchange of India. The issue of buyback of shares in the period from 2006 to 2016 was examined. The firm value is treasured by a proxy, enterprise value, as a substitute of share price. The resins suggest that the firm value differs from pre and post buyback of shares. The findings of this study further imply that the proportion of paid-up equity capital employed by companies for buyback of shares does not have any significant effect on firm value.
引用
收藏
页码：425 / 436
页数：12
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