Signals of Buyback of Shares

Student: Kyuchyuk Dzhesur

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Final Grade: 7

Year of Graduation: 2016

In following study the main theoretical framework of the repurchase of the shares by the companies and the determinants of the buyback were discussed backed up by empirical studies. Novelty of the following work is the outlining effect of buyback announcement on the price os the stocks of the company and evaluation of the determinants of the repurchase of stocks on the Russian financial markets. During the research significant effect on the prices of the stocks by the buyback announcement in short-run was evaluated. Moreover conducting regression analysis using logit model gave a significant dependence among buyback and some of the chosen indicators in Russia. This study can play as the starting point for the next researches about repurchase of shares in Russia which still stays almost unstudied.

Full text (added June 15, 2016)

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