- Promotor
- Co-promotor
- Date
- Thursday 2 Nov 2023, 13:00 - 14:30
- Type
- PhD defence
- Space
- Senate Hall
- Building
- Erasmus Building
- Location
- Campus Woudestein
Y. Li verdedigt will defend her PhD dissertation on Thursday, 2 November 2023, entitled: ’Share Repurchases in the US: An extensive study on the data, drivers, and consequences ‘.
Below is a brief summary about the dissertation:
US firms have been steadily increasing their use of share repurchases ever since the Securities and Exchange Commission (SEC) adopted Rule 10b-18 as a safe harbor provision for buybacks in 1982. Over the next forty years, the increase in share repurchases has culminated in becoming the main means of corporate payout. Share repurchases influence managerial decisions and corporate outcomes, and can thereby affect capital allocations, market efficiency, and stock prices. This dissertation consists of three empirical essays on open-market share repurchase programs, focusing on the data, drivers, and consequences of its announcement and execution. New insights are provided into the data on US share repurchases and its relationship with CEO equity-based compensation and the firm’s cost of debt. The findings in this dissertation not only contribute to the academic literature, but also have relevant implications for practitioners and policy makers.
- More information
The public defence will begin exactly at 13.00 hrs. The doors will be closed once the public defence starts, latecomers may be able to watch on the screen outside. There is no possibility of entrance during the first part of the ceremony. Due to the solemn nature of the ceremony, we recommend that you do not take children under the age of 6 to the first part of the ceremony.
A live stream link has been provided to the candidate.