{"id":"https://openalex.org/W3122231981","doi":"https://doi.org/10.17578/10-1/2-2","title":"Australian On-Market Buy-backs: An Examination of Valuation Issues","display_name":"Australian On-Market Buy-backs: An Examination of Valuation Issues","publication_year":2006,"publication_date":"2006-06-01","ids":{"openalex":"https://openalex.org/W3122231981","doi":"https://doi.org/10.17578/10-1/2-2","mag":"3122231981"},"language":"en","primary_location":{"id":"doi:10.17578/10-1/2-2","doi":"https://doi.org/10.17578/10-1/2-2","is_oa":true,"landing_page_url":"https://doi.org/10.17578/10-1/2-2","pdf_url":"http://www.mfsociety.org/../../../../../modules/modDashboard/uploadFiles/journals/MJ~732~p16tprj1al8p48bkiarlqk8cq4.pdf","source":{"id":"https://openalex.org/S2764905064","display_name":"Multinational Finance Journal","issn_l":"1096-1879","issn":["1096-1879","3087-9132"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Multinational Finance Journal","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"http://www.mfsociety.org/../../../../../modules/modDashboard/uploadFiles/journals/MJ~732~p16tprj1al8p48bkiarlqk8cq4.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5058907476","display_name":"Jason Mitchell","orcid":"https://orcid.org/0000-0002-2091-0509","observed_orcids":["https://orcid.org/0000-0002-2091-0509"]},"institutions":[{"id":"https://openalex.org/I27837315","display_name":"University of Michigan","ror":"https://ror.org/00jmfr291","country_code":"US","type":"education","lineage":["https://openalex.org/I27837315"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Jason Mitchell","raw_affiliation_strings":["University of Michigan Business School, U.S.A"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Michigan Business School, U.S.A","institution_ids":["https://openalex.org/I27837315"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5111810536","display_name":"Haji Y. Izan","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I177877127","display_name":"The University of Western Australia","ror":"https://ror.org/047272k79","country_code":"AU","type":"education","lineage":["https://openalex.org/I177877127"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"H. Y. Izan","raw_affiliation_strings":["University of Western Australia, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Western Australia, Australia","institution_ids":["https://openalex.org/I177877127"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5024371151","display_name":"Roslinda Lim","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I99043593","display_name":"Macquarie University","ror":"https://ror.org/01sf06y89","country_code":"AU","type":"education","lineage":["https://openalex.org/I99043593"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Roslinda Lim","raw_affiliation_strings":["Macquarie University, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Macquarie University, Australia","institution_ids":["https://openalex.org/I99043593"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5058907476"],"corresponding_institution_ids":["https://openalex.org/I27837315"],"apc_list":null,"apc_paid":null,"fwci":1.2695,"has_fulltext":true,"cited_by_count":15,"citation_normalized_percentile":{"value":0.93188387,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"10","issue":"1/2","first_page":"43","last_page":"79"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8065999746322632,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8065999746322632,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.15389999747276306,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.027699999511241913,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/share-repurchases","display_name":"share repurchases","score":0.6639999747276306},{"id":"https://openalex.org/keywords/signaling","display_name":"signaling","score":0.3089999854564667},{"id":"https://openalex.org/keywords/undervaluation","display_name":"undervaluation","score":0.8109999895095825},{"id":"https://openalex.org/keywords/core-values","display_name":"core values","score":0.9399999976158142},{"id":"https://openalex.org/keywords/australian-firms","display_name":"Australian firms","score":0.33000001311302185}],"concepts":[{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.7607181668281555},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5986515879631042},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.4480941891670227},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.23996645212173462}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.17578/10-1/2-2","doi":"https://doi.org/10.17578/10-1/2-2","is_oa":true,"landing_page_url":"https://doi.org/10.17578/10-1/2-2","pdf_url":"http://www.mfsociety.org/../../../../../modules/modDashboard/uploadFiles/journals/MJ~732~p16tprj1al8p48bkiarlqk8cq4.pdf","source":{"id":"https://openalex.org/S2764905064","display_name":"Multinational Finance Journal","issn_l":"1096-1879","issn":["1096-1879","3087-9132"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Multinational Finance Journal","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.17578/10-1/2-2","doi":"https://doi.org/10.17578/10-1/2-2","is_oa":true,"landing_page_url":"https://doi.org/10.17578/10-1/2-2","pdf_url":"http://www.mfsociety.org/../../../../../modules/modDashboard/uploadFiles/journals/MJ~732~p16tprj1al8p48bkiarlqk8cq4.pdf","source":{"id":"https://openalex.org/S2764905064","display_name":"Multinational Finance Journal","issn_l":"1096-1879","issn":["1096-1879","3087-9132"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Multinational Finance Journal","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3122231981.pdf","grobid_xml":"https://content.openalex.org/works/W3122231981.grobid-xml"},"referenced_works_count":37,"referenced_works":["https://openalex.org/W1522838990","https://openalex.org/W1561251096","https://openalex.org/W1581569816","https://openalex.org/W1584950101","https://openalex.org/W1969446211","https://openalex.org/W1978538204","https://openalex.org/W1997920277","https://openalex.org/W2026186584","https://openalex.org/W2034446748","https://openalex.org/W2040469920","https://openalex.org/W2047112644","https://openalex.org/W2047134779","https://openalex.org/W2047409422","https://openalex.org/W2048340769","https://openalex.org/W2069414789","https://openalex.org/W2073054321","https://openalex.org/W2075104633","https://openalex.org/W2081205127","https://openalex.org/W2090758019","https://openalex.org/W2091950112","https://openalex.org/W2096449800","https://openalex.org/W2097188974","https://openalex.org/W2124125155","https://openalex.org/W2129935464","https://openalex.org/W2149170345","https://openalex.org/W2151818020","https://openalex.org/W2176676657","https://openalex.org/W2272234007","https://openalex.org/W2598435567","https://openalex.org/W3041171990","https://openalex.org/W3042029330","https://openalex.org/W3122993843","https://openalex.org/W3123003122","https://openalex.org/W3123164671","https://openalex.org/W3124493328","https://openalex.org/W4241100052","https://openalex.org/W7054856235"],"related_works":["https://openalex.org/W3125070495","https://openalex.org/W2739080664","https://openalex.org/W2114312252","https://openalex.org/W1559468130","https://openalex.org/W2026702567","https://openalex.org/W1852663741","https://openalex.org/W3124493328","https://openalex.org/W4409382066","https://openalex.org/W612002827","https://openalex.org/W2243086601"],"abstract_inverted_index":{"A":[0],"compelling":[1],"reason":[2],"for":[3,95],"engaging":[4],"in":[5,69,99],"on-market":[6,75,78,131],"buy-backs":[7,79],"is":[8,34,44,63,110],"that":[9,46,116],"it":[10],"provides":[11],"a":[12,92,101],"signal":[13],"about":[14],"the":[15,18,37,49,70,74,87,96,108,127],"undervaluation":[16,33,62,90,105,122],"of":[17,28,104,130],"company.":[19],"In":[20],"this":[21,125],"paper":[22],"an":[23,82],"alternative,":[24],"accounting":[25],"based,":[26],"method":[27],"determining":[29],"fundamental":[30],"value":[31],"and":[32,119,123],"used,":[35],"namely":[36],"Ohlson":[38],"residual":[39],"income":[40],"valuation":[41],"framework.":[42],"It":[43],"found":[45],"prior":[47,106],"to":[48,57,107],"announcement":[50],"buy-back":[51,76,97,109],"companies":[52],"are":[53,80],"significantly":[54],"undervalued":[55],"relative":[56],"comparable":[58],"non-buy-back":[59],"companies.":[60],"This":[61],"largely":[64],"but":[65],"not":[66],"totally":[67],"removed":[68],"period":[71],"immediately":[72],"following":[73],"implying":[77],"predominantly":[81],"effective":[83],"signaling":[84,128],"mechanism.":[85],"Where":[86],"firm":[88],"cites":[89],"as":[91],"specific":[93],"motive":[94],"then,":[98],"fact,":[100],"higher":[102],"degree":[103],"evident.":[111],"The":[112],"results":[113],"provide":[114],"evidence":[115],"management":[117],"can,":[118],"does,":[120],"identify":[121],"reduces":[124],"through":[126],"mechanism":[129],"buy-backs.":[132]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2021-02-01T00:00:00"}
