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Free Cash Flows and the Wealth Effects of Stock Repurchase Announcements
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 ...
Generic Manufacturers’ Labeling Catch-22
In Wyeth v. Levine, the Supreme Court eliminated brand-name manufacturers’ ability to use the preemption defense against state law failure to warn claims involving allegedly misbranded pharmaceutical drugs. Since that time, ...