CEO characteristics and frequency of share repurchases
This study investigates whether companies repurchase shares to improve EPS and whether the characteristics of chief executive officer (CEO) play a significant role in the share repurchase frequency in Malaysian non financial companies. Based on robust profit regression using 274 observations of Mala...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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International Information Institute
2016
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/21898/1/III%2019%208A%202016%203155%203160.pdf |
| _version_ | 1825804646109675520 |
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| author | Abdul Latif, Rohaida Taufil Mohd, Kamarun Nisham Kamardin, Hasnah |
| author_facet | Abdul Latif, Rohaida Taufil Mohd, Kamarun Nisham Kamardin, Hasnah |
| author_sort | Abdul Latif, Rohaida |
| collection | UUM |
| description | This study investigates whether companies repurchase shares to improve EPS and whether the characteristics of chief executive officer (CEO) play a significant role in the share repurchase frequency in Malaysian non financial companies. Based on robust profit regression using 274 observations of Malaysian actual share repurchase events between 2006 to 2010, we find significant evidence that companies frequently repurchase shares in an attempt to smooth reporting earnings.We also find that CEO duality, CEO expertise and CEO tenure can greatly influence the frequency of share repurchase events.The idea that managers utilize share repurchases to smooth earnings is quite worrying as it could potentially result in unfavorable implications for the company's long-run performance. |
| first_indexed | 2024-07-04T06:19:04Z |
| format | Article |
| id | uum-21898 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:19:04Z |
| publishDate | 2016 |
| publisher | International Information Institute |
| record_format | eprints |
| spelling | uum-218982017-04-30T03:02:35Z https://repo.uum.edu.my/id/eprint/21898/ CEO characteristics and frequency of share repurchases Abdul Latif, Rohaida Taufil Mohd, Kamarun Nisham Kamardin, Hasnah HF5601 Accounting This study investigates whether companies repurchase shares to improve EPS and whether the characteristics of chief executive officer (CEO) play a significant role in the share repurchase frequency in Malaysian non financial companies. Based on robust profit regression using 274 observations of Malaysian actual share repurchase events between 2006 to 2010, we find significant evidence that companies frequently repurchase shares in an attempt to smooth reporting earnings.We also find that CEO duality, CEO expertise and CEO tenure can greatly influence the frequency of share repurchase events.The idea that managers utilize share repurchases to smooth earnings is quite worrying as it could potentially result in unfavorable implications for the company's long-run performance. International Information Institute 2016-08 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/21898/1/III%2019%208A%202016%203155%203160.pdf Abdul Latif, Rohaida and Taufil Mohd, Kamarun Nisham and Kamardin, Hasnah (2016) CEO characteristics and frequency of share repurchases. Information, 19 (8A). pp. 3155-3160. ISSN 1343-4500 http://www.information-iii.org/abs_e2.html#No8(A)-2016 |
| spellingShingle | HF5601 Accounting Abdul Latif, Rohaida Taufil Mohd, Kamarun Nisham Kamardin, Hasnah CEO characteristics and frequency of share repurchases |
| title | CEO characteristics and frequency of share repurchases |
| title_full | CEO characteristics and frequency of share repurchases |
| title_fullStr | CEO characteristics and frequency of share repurchases |
| title_full_unstemmed | CEO characteristics and frequency of share repurchases |
| title_short | CEO characteristics and frequency of share repurchases |
| title_sort | ceo characteristics and frequency of share repurchases |
| topic | HF5601 Accounting |
| url | https://repo.uum.edu.my/id/eprint/21898/1/III%2019%208A%202016%203155%203160.pdf |
| work_keys_str_mv | AT abdullatifrohaida ceocharacteristicsandfrequencyofsharerepurchases AT taufilmohdkamarunnisham ceocharacteristicsandfrequencyofsharerepurchases AT kamardinhasnah ceocharacteristicsandfrequencyofsharerepurchases |