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Share repurchases announcement and the signaling effect in South Africa
Mini Dissertation (MBA)--University of Pretoria, 2017.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2018
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| _version_ | 1867613472872726528 |
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| access_status_str | Open Access |
| author2 | Thaver, Kuben |
| author_browse | Thaver, Kuben |
| author_facet | Thaver, Kuben |
| collection | Thesis |
| dc_rights_str_mv | © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (MBA)--University of Pretoria, 2017. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/64904 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:36:41.872Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/64904 Share repurchases announcement and the signaling effect in South Africa Thaver, Kuben ichelp@gibs.co.za Nyanga, Sibonginkosi UCTD Mini Dissertation (MBA)--University of Pretoria, 2017. This research sought to test whether the observed evidence and documented academic thinking on share repurchases around the signaling hypothesis could be applied in a country like South Africa among the firms listed on the Johannesburg Stock Exchange (JSE). The study also sought to ascertain whether there is a statistically meaningful outperformance of a portfolio composed of shares mimicking firms that announced share repurchases against the Equal Weighted All-Share Index (J203) over the research period. 209 share buyback announcement conducted by 82 JSE listed companies from January 2003 to December 2016 were analysed for the study. The study concluded that the South African repurchase activity largely reflects the global observed evidence and the modern academic thinking around buybacks. The regulatory climate was found to be having components which contributed to South Africa not fully reflecting the observed evidence and the modern academic thinking around buybacks. The study found that the share repurchases announcement portfolio relative to the Equal Weighted All-Share Index (J203) benchmark shows a 2.7% outperformance. The results reveal that share buyback announcements convey important information to investors km2018 Gordon Institute of Business Science (GIBS) MBA Unrestricted 2018-05-11T09:03:14Z 2018-05-11T09:03:14Z 30-03-18 2017 Mini Dissertation Nyanga, S 2017, Share repurchases announcement and the signaling effect in South Africa, MBA Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/64904> http://hdl.handle.net/2263/64904 en © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Share repurchases announcement and the signaling effect in South Africa |
| title | Share repurchases announcement and the signaling effect in South Africa |
| title_full | Share repurchases announcement and the signaling effect in South Africa |
| title_fullStr | Share repurchases announcement and the signaling effect in South Africa |
| title_full_unstemmed | Share repurchases announcement and the signaling effect in South Africa |
| title_short | Share repurchases announcement and the signaling effect in South Africa |
| title_sort | share repurchases announcement and the signaling effect in south africa |
| topic | UCTD |
| url | http://hdl.handle.net/2263/64904 |