上市公司以市场价回购股票对股价的影响

上市公司以市场价回购股票对股价的影响有关看法：

1，回购可能增加公司的return on equity 和return on equity。

2，但是如果回顾没有对公司税额产生影响，将不会影响股价。

3，在最好的资本结构下，回购可能降低利息税，从而使股价上升。

4，If firms suffer decreased market value from principal-agent problems, then, a repurchase can increase value by decreasing free cash flow.

5，Since open market repurchases reduce free cash by less than fixed-price offers, we do not expect the principal-agent hypothesis to explain the increase in value attending open market repurchases.

6，conclude that the repurchase proportion signals positive information about firm value.