Why Companies Use the Policy of Buyback of Shares in India
International Journal of Emerging Trends in Science and Technology,
Vol. 1 No. 05 (2014),
1 July 2014
Abstract
Buy Back of shares in India is permitted in 1999.This is the new Concept in India. Because few companies are used the buyback of shares in India .Because there are the perception only rich companies are using the buyback of shares in India .But there are many benefit of the buyback of shares in India .This research paper discuss about all the aspect of buyback of shares which are benefit able for the companies as well as shareholders. The main objective this research paper to check the effect of buy back of shares post and pre performance.
Key Words: Buy Back of Shares, Companies, RatioHow to Cite
Dhanda, D. N., & Kaur, K. (2014). Why Companies Use the Policy of Buyback of Shares in India. International Journal of Emerging Trends in Science and Technology, 1(05). Retrieved from http://ijetst.in/index.php/ijetst/article/view/211
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References
• Ikenberry, D., Lakonishok, J., Vermaelen, T., (2000). Share repurchases in Canada: Performance and strategic trading. Journal of Finance. Vol no.5, 2373–2397.
• Ishagawa, Nobuyuki (2002). Open Market Repurchase Announcements and Stock Price Behavior in Inefficient Markets. Financial Management. pp 5-20.
• Kahle, Kathleen, M. (2002) When a Buy Back is not a Buy-Back. Journal of Finance and Economics. pp 235-261.
• Urchere, Isaac and Ross Mathew. (2002). Do Share buy Back Announcements Convey Firm Specific or Industry Wide Information. International Review of Financial Analysis. pp 511-531.
• Grullon, G., & Michaely, R. (2004). The information content of share repurchase programs. Journal of Finance.Vol. No 59.(2), pp 651-680.
• Mishra, A.K. (2005).An Empirical Analysis of Share Buybacks in India. Working Paper, IIM.Lucknow. India.
• Ishwar, P. (2010).Stock Price Responses to the Announcement of Buyback of Shares in India. Indian Journal of Commerce and Management Studies.Vol No .1(1), 14-29.
• Haribar, P., Jenkins, T. N. and Johnson, B. W. (2006) Stock Repurchases as an Earning Management. Journal of Accounting and Economics. Vol. No. 41,pp 3-27.
• Mitchell, D., Joson, D. and Dharmowan Grace, V. (2007) Incentives for an on Market Buy-Outs. Journal of Corporate Finance .pp 146-169.
• Ginglinger, Edith and Haman, Jacques. (2007). Actual Share Repurchases Timing and Liquidity. Journal of Banking and Finance.Vol. No. 31, pp915-938.
• Rajagopalan, N.V.R. and Shankar, H. (2012). Indian Stock Market: A Study of S & P (Nx500) Index IJEMR Companies. International Journal of Engineering and Management Research, Vol. No. 2.
• Dol, H. A. and Wahid, Abdul (2013) Measuring the Motivating Factors for Share Buy Back. Journal of Social Research.Vol.No. 2, pp35-50.
• Kaur,K and Balwinder ,B.(2013).Impact of shares buyback announcement on stock prices: evidence from India. Advance in Management .Vol. No 3.
• Kumar,S ,Jacob, J and Vasudeven ,E .(2013) Market timing ability of Indain firms in open market repurchases .Indain Institute of Management.
• Bhatia, B.(2013) Share repurchases :Short term effect in India. International Journal of Applied Research and Studies Vol No 2.12.
• Kaur Ramesh and Rane ,P.(2013) Shareholder value creation through buyback of equity .Indian Journal of Accounting Vol xliv .pp.1-5.
• Kaur ,k.(2013) .Open market share buyback in India .RADIX International Journal of Banking ,Finance and Accounting .Vol .1.(4).
Books
 Aczel,A.DSounderation ,J.(2006) .Complete business statistics New delhi: Tata Mcgraw Hill Education Pvt Ltd.
 Agarwal,C,Sharma,V(2012).Research Methodology in Management New Delhi: common wealth Publishers pvt Ltd.
 Cooper, D.R, Schindler, P.s (2006) Business Research Methods New Delhi: Tata McGraw Hill Education Pvt .Ltd.
 Kanji, G.K (1999).100 Statistical Tests. New Delhi: SAGE Publications.
 Trochim,W.G (2011)Business Research method .New Delhi.
Websites
 www.nse.com
 www.yahoofinance.com
 www.moneycontrol.com
 www.bse.com
• Ishagawa, Nobuyuki (2002). Open Market Repurchase Announcements and Stock Price Behavior in Inefficient Markets. Financial Management. pp 5-20.
• Kahle, Kathleen, M. (2002) When a Buy Back is not a Buy-Back. Journal of Finance and Economics. pp 235-261.
• Urchere, Isaac and Ross Mathew. (2002). Do Share buy Back Announcements Convey Firm Specific or Industry Wide Information. International Review of Financial Analysis. pp 511-531.
• Grullon, G., & Michaely, R. (2004). The information content of share repurchase programs. Journal of Finance.Vol. No 59.(2), pp 651-680.
• Mishra, A.K. (2005).An Empirical Analysis of Share Buybacks in India. Working Paper, IIM.Lucknow. India.
• Ishwar, P. (2010).Stock Price Responses to the Announcement of Buyback of Shares in India. Indian Journal of Commerce and Management Studies.Vol No .1(1), 14-29.
• Haribar, P., Jenkins, T. N. and Johnson, B. W. (2006) Stock Repurchases as an Earning Management. Journal of Accounting and Economics. Vol. No. 41,pp 3-27.
• Mitchell, D., Joson, D. and Dharmowan Grace, V. (2007) Incentives for an on Market Buy-Outs. Journal of Corporate Finance .pp 146-169.
• Ginglinger, Edith and Haman, Jacques. (2007). Actual Share Repurchases Timing and Liquidity. Journal of Banking and Finance.Vol. No. 31, pp915-938.
• Rajagopalan, N.V.R. and Shankar, H. (2012). Indian Stock Market: A Study of S & P (Nx500) Index IJEMR Companies. International Journal of Engineering and Management Research, Vol. No. 2.
• Dol, H. A. and Wahid, Abdul (2013) Measuring the Motivating Factors for Share Buy Back. Journal of Social Research.Vol.No. 2, pp35-50.
• Kaur,K and Balwinder ,B.(2013).Impact of shares buyback announcement on stock prices: evidence from India. Advance in Management .Vol. No 3.
• Kumar,S ,Jacob, J and Vasudeven ,E .(2013) Market timing ability of Indain firms in open market repurchases .Indain Institute of Management.
• Bhatia, B.(2013) Share repurchases :Short term effect in India. International Journal of Applied Research and Studies Vol No 2.12.
• Kaur Ramesh and Rane ,P.(2013) Shareholder value creation through buyback of equity .Indian Journal of Accounting Vol xliv .pp.1-5.
• Kaur ,k.(2013) .Open market share buyback in India .RADIX International Journal of Banking ,Finance and Accounting .Vol .1.(4).
Books
 Aczel,A.DSounderation ,J.(2006) .Complete business statistics New delhi: Tata Mcgraw Hill Education Pvt Ltd.
 Agarwal,C,Sharma,V(2012).Research Methodology in Management New Delhi: common wealth Publishers pvt Ltd.
 Cooper, D.R, Schindler, P.s (2006) Business Research Methods New Delhi: Tata McGraw Hill Education Pvt .Ltd.
 Kanji, G.K (1999).100 Statistical Tests. New Delhi: SAGE Publications.
 Trochim,W.G (2011)Business Research method .New Delhi.
Websites
 www.nse.com
 www.yahoofinance.com
 www.moneycontrol.com
 www.bse.com
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