by Ng Kwok-Kwai. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 100-101). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.v / LIST OF TABLES --- p.vi / PREFACE --- p.vii / ACKNOWLEDGEMENTS --- p.ix / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Share Repurchase Activities in Hong Kong - Historical Statistics --- p.1 / Types of Share Repurchase --- p.7 / Chapter II. --- LITERATURE REVIEW --- p.9 / Empirical Study on Abnormal Return --- p.9 / Motivation for Open Market Share Repurchase --- p.10 / Signalling Hypothesis --- p.10 / Dividend Taxation Hypothesis --- p.10 / Leverage Hypothesis --- p.10 / Bondholder Expropriation Hypothesis --- p.10 / Scope of this Study --- p.12 / Chapter III. --- DATA --- p.13 / Sources --- p.13 / Sampling Period --- p.13 / Screening/Sample Size --- p.14 / Chapter IV. --- METHODOLOGY --- p.15 / Announcement Day --- p.15 / Time Horizons --- p.16 / Price Performance --- p.17 / Abnormal Return --- p.17 / Cumulative Abnormal Return --- p.18 / Definition of Variables and Formulae --- p.19 / Variables --- p.19 / Formulae --- p.20 / Computation Process --- p.20 / Stage I - Evaluation of Cumulative Abnormal Return(CAR) --- p.20 / Abnormal return - beta adjustment --- p.20 / Cumulative abnormal return --- p.21 / Stage II - CAR verse other Variables --- p.21 / Other variables --- p.21 / Sub-sample classification --- p.22 / Stage III - Regression of CAR with other Variables --- p.23 / Chapter V. --- RESULTS AND IMPLICATIONS --- p.24 / Cumulative Abnormal Return --- p.24 / Short Term Performance --- p.24 / Long Term Performance --- p.24 / "Cumulative Abnormal Return verse Market-to-Book Ratio, Market Value and Monthly Frequency" --- p.28 / Short Term Performance --- p.28 / Market-to-book ratio --- p.28 / Market value --- p.34 / Monthly frequency --- p.39 / Long Term Performance --- p.44 / Market-to-book ratio --- p.44 / Market value --- p.50 / Monthly frequency --- p.55 / "Regression of CAR verse Market-to-Book Ratio, Market Value and Monthly Frequency" --- p.61 / Short Term --- p.61 / Long Term --- p.62 / Chapter VI. --- CONCLUSION --- p.63 / Summary --- p.63 / Recommendation --- p.64 / APPENDIX I --- p.66 / APPENDIX II --- p.70 / APPENDIX III --- p.72 / APPENDIX IV --- p.96 / BIBLIOGRAPHY --- p.100
| Identifer | oai:union.ndltd.org:cuhk.edu.hk/oai:cuhk-dr:cuhk_322136 |
| Date | January 1998 |
| Contributors | Ng, Kwok-Kwai., Chinese University of Hong Kong Graduate School. Division of Business Administration. |
| Source Sets | The Chinese University of Hong Kong |
| Language | English |
| Detected Language | English |
| Type | Text, bibliography |
| Format | print, ix, 101 leaves : ill. ; 30 cm. |
| Coverage | China, Hong Kong |
| Rights | Use of this resource is governed by the terms and conditions of the Creative Commons “Attribution-NonCommercial-NoDerivatives 4.0 International” License (http://creativecommons.org/licenses/by-nc-nd/4.0/) |
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