Yutong LI
PhD student in Finance at University Paris Saclay, Laboratory RITM
Under direction of Mr Philippe Gillet
Subjet " SHARE BUYBACKS: WHY DO COMPANIES BUY BACK THEIR SHARES? WHAT IS THE TRIGGER BETWEEN DIVIDEND PAYMENTS AND SHARE BUYBACKS? "
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Biography
Biography
I hold a master's degree in financial engineering strategy obtained in 2021 at the University of Paris-Saclay after undergraduate studies in China (4 years). And then, it was an honor to come to France after my diploma to continue my studies in finance. My second cycle studies allowed me to better understand finance and to develop my doctoral project, defined with my thesis director. Two questions structure my doctoral reflection on share buybacks: why do companies buy back their own shares? What is the triggering factor between dividend payments and share buybacks? It is known that to distribute cash flow to their shareholders, companies have the choice between distributing dividends or buying back their own shares. In addition to the cash flow reversal effects (see Jensen), these decisions are a signal for the financial markets. What factors push companies to favor one or the other way of restoring cash flow? This is the project.
Contact
Contact
Email : yutong.li@universite-paris-saclay.fr
Address:
Faculty Jean Monnet
54 Boulevard Desgranges, 92 330 Sceaux
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