Share Repurchase, Executive Options and Wealth Changes to Stockholders and Bondholders by Sang-Gyung Jun, Mookwon Jung, Ralph Walkling

Ready for another cool paper on share repurchases? Here you go!SSRN-Share Repurchase, Executive Options and Wealth Changes to Stockholders and Bondholders by Sang-Gyung Jun, Mookwon Jung, Ralph WalklingShort version: This paper attempts to disentangle the signaling story ("we are buying back stock because we are undervalued") and the wealth transfer ("we are buying back stock because we can