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A Dynamic Model of Optimal Share Repurchase

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Innovative Mobile and Internet Services in Ubiquitous Computing (IMIS 2018)

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 773))

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Abstract

We propose a model of dynamic share repurchase. The model highlights the central importance of payout for corporate decisions. Our two main results are: (1) free cash flows depends on the operating cash flows changes; (2) optimal share repurchase timing is decided by the relative changes between the free cash flow and dividends.

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Author information

Authors and Affiliations

  1. Department of Finance, Asia University, No. 500, Liu-Feng Rd., Wu-Feng District, Taichung, Taiwan

    Chun-Ping Chang, Yung-Shun Tsai & Shyh-Weir Tzang

  2. Mathematics Division, University of Malaya, Kuala Lumpur, Malaysia

    Yong Zulina Zubairi

Authors
  1. Chun-Ping Chang
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  2. Yung-Shun Tsai
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  3. Shyh-Weir Tzang
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  4. Yong Zulina Zubairi
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Corresponding author

Correspondence to Shyh-Weir Tzang .

Editor information

Editors and Affiliations

  1. Department of Information and Communication Engineering, Fukuoka Institute of Technology, Fukuoka, Japan

    Leonard Barolli

  2. Technical University of Catalonia, Barcelona, Spain

    Fatos Xhafa

  3. Department of Computer Science, COMSATS Institute of Information Technology, Islamabad, Pakistan

    Nadeem Javaid

  4. Rissho University, Tokyo, Japan

    Tomoya Enokido

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Chang, CP., Tsai, YS., Tzang, SW., Zubairi, Y.Z. (2019). A Dynamic Model of Optimal Share Repurchase. In: Barolli, L., Xhafa, F., Javaid, N., Enokido, T. (eds) Innovative Mobile and Internet Services in Ubiquitous Computing. IMIS 2018. Advances in Intelligent Systems and Computing, vol 773. Springer, Cham. https://doi.org/10.1007/978-3-319-93554-6_80

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