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News Management and Earnings Management around Accelerated Share Repurchases
(University of Waterloo, 2017-09-27)
There has been a growing trend in accelerated share repurchases (ASRs) in the last decade. ASRs are an alternative to commonly used open market repurchases (OMRs). In an ASR, a firm commits itself to repurchasing an announced ...
The Valuation and Risk Management of a DB Underpin Pension Plan
(University of Waterloo, 2007-08-02)
Hybrid pension plans offer employees the best features of both defined benefit and defined contribution plans. In this work, we consider the hybrid design offering a defined contribution benefit with a defined benefit ...