The free cash flow hypothesis predicts that repurchasing firms with free cash flows will have larger announcement-period abnormal returns than repurchasers that do not have free cash flows. We test the free cash flow ...

Over the next five years, approximately 110 drugs, including blockbuster products such as Sanofi-Aventis’ allergy medicine Flomax, GlaxoSmithKline’s herpes medication Valtrex, and Pfizer’s cholesterol medication Lipitor ...