Firm Characteristics And Abnormal Returns During Share Repurchases
Table 4:
ANOVA | |||||||||||
Model 1 | Sum of Squares | df | Mean Square | F | Sig. | ||||||
Regression | 235.191 | 6 | 39.198 | 2.772 | 0.012 | ||||||
Residual | 5925.232 | 419 | 14.141 | ||||||||
Total | 6160.423 | 425 | |||||||||
Model 1 | Unstandardized Coefficients | Standardized Coefficients | t | Sig. | |||||||
B | Std. Error | Beta | |||||||||
(Constant) | 0.960 | 0.527 | 1.821 | 0.069 | |||||||
Debt Ratio | -0.025 | 0.012 | -0.102 | -2.069 | 0.039 ** | ||||||
Dividend Yield | -0.038 | 0.084 | -0.022 | -0.447 | 0.655 | ||||||
Earnings Per Share | -2.872 | 1.870 | -0.093 | -1.536 | 0.125 | ||||||
Market-To-Book Value | 0.066 | 0.447 | 0.008 | 0.147 | 0.883 | ||||||
Prior Announcement Returns | -0.067 | 0.021 | -0.153 | -3.120 | 0.002 *** | ||||||
Return on Assets | 0.056 | 0.047 | 0.078 | 1.198 | 0.232 |