THE PRIORITY DIRECTIONS OF NATIONAL ECONOMY DEVELOPMENT
PAYOUT POLICY, SHARE REPURCHASE AND SIGNALING EFFECT – ANALYZING DATA OF ALL SUCCESSFUL SHARE REPURCHASE AT CAPITAL MARKET OF REPUBLIC OF SERBIA FROM 2011. TO 2014. YEAR
Ivana Avramović
Abstract: Еxpansion of share repurchase emerged in America after the 1980s of the last century, primerly as mechanism of payment of surplus cash to shareholders. Regarding this, it is not surprising that different models of purchase incurred in that market. Comparative review share repurchase a fixed price, the purchase on the open market and Dutch auctions, we examined which methods produces the greatest effect signaling ie. transmitting information from managers to shareholders. What do the managers convey to investors repurchasing shares of their companies? On the basis of the analytes all successful share repurchase which were done Serbian corporations from 2011. to 2014. year, we found that their stocks are undervalue.
Keywords: share repurchase, methods of share repurchase, effect signaling
Published: p. 97-107
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