Thank you, Larry, it's a good collection of research papers on the topic. I've referenced the Sammon & Shim paper in my post about index funds effectively converting stock buybacks to a dividend equivalent, and incurring some drag in the process: https://rationalbeard.substack.com/p/stock-buybacks-vs-dividends
Thank you, Larry, it's a good collection of research papers on the topic. I've referenced the Sammon & Shim paper in my post about index funds effectively converting stock buybacks to a dividend equivalent, and incurring some drag in the process: https://rationalbeard.substack.com/p/stock-buybacks-vs-dividends
Nice piece Pavel. Might have mentioned that for taxable investors buybacks more tax efficient way to return capital
Thank you. The tax efficiency is undeniably on the side of buybacks, for sure.