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CEO equity incentive, board gender diversity, and share repurchases

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Item Summary

Title:CEO equity incentive, board gender diversity, and share repurchases
Authors:Chen, Chan-Jung
Lu, Chien-Ju
Keywords:CEO equity incentive
Repurchases
board gender
Date Issued:29 Aug 2018
Abstract:This study investigates the effect of CEO equity incentive on share repurchase. We further consider the influence of board gender diversity on the relation between CEO equity incentives and share repurchase. Using a sample of the Taiwan Stock Exchange and Taipei Exchange listed companies from 2002 to 2016, we document that, relative to lower equity incentive, CEOs with higher equity incentive are more likely to buy back shares, in particular when their stock prices are perceived as undervalued. Furthermore, we also find that board gender diversity mitigates the relation between CEO equity incentive and share buyback.
URI:http://hdl.handle.net/10125/59293
Appears in Collections: 05 Corporate Governance


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