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Repurchases on the Swedish Stock Market: - A good long-term investment?
Mälardalen University, School of Business, Society and Engineering.
Mälardalen University, School of Business, Society and Engineering.
2013 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The purpose of this paper is to investigate the long-term share price effects for Swedish companies that employed repurchases programs during 2000 - 2012.

This paper applies a trading strategy where the investor invests in stocks of compa-nies that engage in repurchase of their own equity. We test buy-and-hold abnormal returns versus two different proxies for the control firm, using small sample t-statistics.

Abnormal returns for one to five years are insignificant under sta-tistic tests, using the supersector indices. In contrast, they are significant using a proxy for the market index as control firm. Factors hypothesized to contribute to this result are incon-clusive using our method of comparison. As a whole, we suggest that investing in companies that repurchase stock is a solid strategy: It is on par or better than index.

Place, publisher, year, edition, pages
2013. , 45 p.
Keyword [en]
repurchase, abnormal returns, efficient market, dividends
National Category
URN: urn:nbn:se:mdh:diva-19191OAI: diva2:627404
Subject / course
2013-06-05, Västerås, 13:15 (English)
Available from: 2013-06-17 Created: 2013-06-11 Last updated: 2013-06-17Bibliographically approved

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Repurchases on the Swedish Stock Market(1196 kB)417 downloads
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Tran, NguyenWeigardh, Anton
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