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A STUDY ON BUYBACK SHARES IN LISTED BOMBAY STOCK EXCHANGE BSE COMPANIES IN INDIA

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Title A STUDY ON BUYBACK SHARES IN LISTED BOMBAY STOCK EXCHANGE BSE COMPANIES IN INDIA
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Contributor Dr. K.V.R.Rajandran
 
Subject India, BSE, SEBI, Buyback of Shares, Bombay Stock Exchange, GARCH, Judgment Sampling, Multiple Regression, Autocorrelation
 
Description In India, Buyback of shares was implemented to elevate recent economies. SEBI (Buyback of
newlineSecurities) Regulations, 1999 was the major governing law for companies announcing buyback
newlinein stock market of India. After the announcement, number of companies had started repurchase
newlinetheir own shares. Buyback of shares in companies has been increasing trend year by year. There
newlineare many influencing factor that lead the company to participate in buyback of shares. Financial
newlinemanager of the company can used the factors as measuring tool before participating in the
newlinebuyback of shares. Many of the literature related to financial stated that the future planning and
newlinerestructuring has been important element for a company. This study also addressed the corporate
newlinerestructuring action of the company which buyback of shares was one of the restructuring tool in
newlinethe corporate action.
newlineThis study focused on the buyback of shares in India. Companies participated in buyback of
newlineshares for the purpose of restructure of the company. This study had revealed that the factor
newlineinfluenced to buyback of shares in India. Samples were taken from Bombay Stock Exchange
newlinelisted companies in India. The study period was from 1998 to 2015.The sampling method was
newlineused Judgment sampling. Samples were taken on companies that involved in buyback of shares
newlinesince 1998 to 2015. There were 238 companies repurchased their own shares from 1998 to 2015.
newlineSecondary data was used from different sources such as CMIE PROWESS Database, SEBI, BSE
newlineetc.
newlineStatistical tools like Multiple Regression, Autocorrelation, GARCH Model and Augumented
newlineDickey Fuller Test were used in achieving the stated objectives. The study exposed that cash
newlineflow and capital structure were the important factor to involve in the buyback of shares. Likewise
newlineShare price was increased after the buyback announcement. Results of the GARCH Model
newlinedetermined that there was less volatility in share price on buyback announcement.
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Date 2017-06-13T09:33:36Z
2017-06-13T09:33:36Z
15-9-2012
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11-03-2017
 
Type Ph.D.
 
Identifier http://hdl.handle.net/10603/154408
 
Language English
 
Relation —
 
Rights university
 
Format —
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CD
 
Coverage —
 
Publisher Thanjavur
Periyar Maniammai University
Department of Management Studies
 
Source University