Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 22, 2011 erstellt
Description:
Our empirical results show that the companies with higher market liquidity and shorter investment horizons by their shareholders tend to initiate market share repurchases. Such companies also have a higher value and percentage of repurchases with respect to total payout. Japanese companies' unique shareholder ownership structure should have an influence on payout policies