The SEC’s New Repurchase Disclosure Rules: A Solution in Search of a Problem?

By Sanjai Bhagat


Directorship Magazine

Dividends and share repurchases are the two ways for companies to provide a payout to their shareholders. Finance research going back more than half a century has repeatedly confirmed that management teams prefer stable dividends. Once they increase dividends, they are very reluctant to lower them...

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Sanjai Bhagat
Sanjai Bhagat serves on corporate boards. He is professor of finance at the University of Colorado Boulder and the author of Financial Crisis, Corporate Governance, and Bank Capital, published by Cambridge University Press.


This article is from the Summer 2023 issue of Directorship.