上市公司以市場價回購股票對股價的影響

上市公司以市場價回購股票對股價的影響有關看法：

1，回購可能增加公司的return on equity 和return on equity。

2，但是如果回顧沒有對公司稅額產生影響，將不會影響股價。

3，在最好的資本結構下，回購可能降低利息稅，從而使股價上升。

4，If firms suffer decreased market value from principal-agent problems, then, a repurchase can increase value by decreasing free cash flow.

5，Since open market repurchases reduce free cash by less than fixed-price offers, we do not expect the principal-agent hypothesis to explain the increase in value attending open market repurchases.

6，conclude that the repurchase proportion signals positive information about firm value.