Share repurchases and intangible assets

Journal of Accounting and Economics

Volumn 28, Issue 2, 1999, Pages 211-241

  Barth, Mary E ^a   Kasznik, Ron ^a  

^a STANFORD UNIVERSITY   (United States)

Author keywords

Capital markets; G14; G35; Intangible assets; M4; Share repurchases

Indexed keywords

EID: 0013405397     PISSN: 01654101     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0165-4101(99)00020-8     Document Type: Article

References (34)

1. Abdel-khalik A.R. Advertising effectiveness and accounting policy. The Accounting Review. 50:1975;657-670.
2. Bagwell L., Shoven J. Cash distributions to shareholders. Journal of Economic Perspectives. 3:1988;129-140.
3. Barclay M.J., Smith C.W. Corporate payout policy. Journal of Financial Economics. 22:1988;61-82.
4. Barth, M.E., Hutton, A.P., 1999. Information intermediaries and the pricing of accruals. Unpublished working paper. Stanford University, Graduate School of Business.
5. Barth, M.E., Kasznik, R., McNichols, M.F., 2000. Analyst coverage and intangible assets, forthcoming, Journal of Accounting Research.
6. Bartov E. Changes in financial policy as signals for future earnings: An empirical investigation of unsystematic stock repurchases. Ph.D. dissertation. 1989;University of California, Berkeley.
7. Bartov E. Open-market stock repurchases as signals for earnings and risk changes. Journal of Accounting and Economics. 14:1991;275-294.
8. Bartov E., Krinsky I.K., Lee J. Evidence on how companies choose between dividends and open-market share repurchases. Journal of Applied Corporate Finance. 11:1998;89-96.
9. Belsley D.A., Kuh E., Welsch R.E. Regression Diagnostics. 1980;John Wiley and Sons, New York.
10. Benartzi S., Michaely R., Thaler R. Do changes in dividends signal the future or the past. Journal of Finance. 52:1997;1007-1034.
11. Brennan M., Hughes P. Stock prices and the supply of information. Journal of Finance. 46:1991;1665-1691.
12. Bublitz B., Ettredge M. The information in discretionary outlays: Advertising, research, and development. The Accounting Review. 64:1989;108-124.
13. Collins D., Kothari S.P., Rayburn J. Firm size and the information content of prices with respect to earnings. Journal of Accounting and Economics. 9:1987;111-138.
14. Comment R., Jarrell G.A. The relative signalling power of Dutch-auction and fixed-price self-tender offers and open-market share repurchases. Journal of Finance. 46:1991;1243-1271.
15. Dann L.Y., Masulis R.W., Mayers D. Repurchase tender offers and earnings information. Journal of Accounting and Economics. 14:1991;217-251.
16. Dechow P.M., Hutton A.P., Meulbroek L., Sloan R.G. Short interests, fundamental analysis, and stock returns. Working paper. 1999;Harvard Business School.
17. Guay W., Harford J. The cash flow permanence and information content of dividend increases vs. repurchases. Unpublished working paper. 1998;The Wharton School, University of Pennsylvania.
18. Hand J.R.M. Resolving LIFO uncertainty. A theoretical and empirical reexamination of 1974-75 LIFO adoptions and nonadoptions Journal of Accounting Research. 31:1993;21-49.
19. Hand J.R.M., Hughes P.J., Sefcik S.E. Insubstance defeasances. Journal of Accounting and Economics. 13:1990;47-89.
20. Healy P., Palepu K. The effect of firms' financial disclosure strategies on stock prices. Accounting Horizons. 7:1993;1-11.
21. Healy P., Palepu K. The challenges of investor communication: The case of CUC International. Inc. Journal of Financial Economics. 38:1995;111-140.
22. Hertzel M., Jain P.C. Earnings and risk changes around stock repurchase tender offers. Journal of Accounting and Economics. 14:1991;253-274.
23. Hirschey M., Weygandt J.J. Amortization policy for advertising and research and development expenditures. Journal of Accounting Research. 23:1985;326-335.
24. Howe K.M., He J., Kao G.W. One-time cash flow announcements and free-cash flow theory: share repurchase and special dividends. Journal of Finance. 47:1992;1963-1975.
25. Ikenberry D., Lakonishok J., Vermaelen T. Market underreaction to open market share repurchases. Journal of Financial Economics. 39:1995;181-208.
26. Jensen M.C. Agency costs of free cash flow, corporate finance and takeovers. American Economics Journal. 76:1986;323-329.
27. Kanatas G., Ofer A.R. Managerial incentives and corporate dividend policy. Unpublished working paper. 1990;Northwestern University.
28. Lanen W.N., Thompson R. Stock price reactions as surrogates for the net cash flow effects of corporate policy decisions. Journal of Accounting and Economics. 10:1988;311-334.
29. Lev B., Sougiannis T. The capitalization, amortization, and value-relevance of R&D. Journal of Accounting and Economics. 21:1996;107-138.
30. Lev, B., Zarowin, P., 1999. The boundaries of financial reporting and how to extend them. forthcoming, Journal of Accounting Research.
31. Myers S.C., Majluf N.J. Corporate financing and investment decisions when the firm has information that investors do not have. Journal of Financial Economics. 13:1984;187-221.
32. Ofer A.R., Thakor A.V. A theory of stock price responses to alternative corporate cash disbursement methods. stock repurchases and dividends Journal of Finance. 42:1987;365-394.
33. Sougiannis T. The accounting based valuation of corporate R&D. The Accounting Review. 69:1994;44-68.
34. Vermaelen T. Common stock repurchases and market signalling. Journal of Financial Economics. 9:1981;139-183.