Capital

Working Paper

Are Buybacks Good for Long-Term Shareholder Value? Evidence from Buybacks around the World

Using a sample of over 9,000 buyback announcements from 31 non-U.S. countries, we find support for the results of studies based on U.S. data: on average, share repurchases are associated with significant positive short-term and longterm excess...Read more

Urs Peyer
Theo Vermaelen
01 September 2014

ICO Investors

We conduct a detailed analysis of investors in successful initial coin offerings (ICOs). The average ICO has 4,700 contributors. The median participant contributes small amounts and many investors sell their tokens before the underlying product...Read more

Ruediger Fahlenbrach
Marc Frattaroli
05 August 2019

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