{"id":{"repo_id":"purdue-thes","oai_identifier":"oai:docs.lib.purdue.edu:open_access_dissertations-2353"},"canonical_url":"https://search.dev.ndltd.org/etd/purdue-thes/oai:docs.lib.purdue.edu:open_access_dissertations-2353","repository":{"repo_id":"purdue-thes","name":"Purdue University","base_url":"https://docs.lib.purdue.edu/do/oai/"},"display":{"title":"Detecting Earnings Information in Repurchase Announcements using the Luck of the (Double) Irish","abstract":"Previous studies disagree about whether open market repurchase announcements contain information about earnings expectations. Using a regulation that made tax haven-using firms’ repurchases more costly as a quasi-natural experiment, I find positive post-repurchase-announcement revisions in earnings expectations for firms using “Double Irish” offshore tax avoidance structures. These results are robust to falsification tests, different types of tax havens, and changes in forecasted and actual earnings. “Double Irish” firms announce fewer repurchase programs than other firms after the regulation, consistent with an increase in their repurchasing costs. These results suggest that certain costly repurchases are announced when outsiders underestimate future earnings.","abstract_html":"Previous studies disagree about whether open market repurchase announcements contain information about earnings expectations. Using a regulation that made tax haven-using firms’ repurchases more costly as a quasi-natural experiment, I find positive post-repurchase-announcement revisions in earnings expectations for firms using “Double Irish” offshore tax avoidance structures. These results are robust to falsification tests, different types of tax havens, and changes in forecasted and actual earnings. “Double Irish” firms announce fewer repurchase programs than other firms after the regulation, consistent with an increase in their repurchasing costs. These results suggest that certain costly repurchases are announced when outsiders underestimate future earnings.","abstract_has_math":false,"creators":["O'Brien, William"],"institution":null,"degree_name":"Doctor of Philosophy (PhD)","degree_level":"Dissertation","degree_discipline":"Management","degree_department":null,"school":null,"contributors":["Mara Faccio","Huseyin Gulen","Byoung Hwang","John McConnell"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2015,"date_issued":"2015-01-01T08:00:00Z","date_published":"2015-01-01T08:00:00Z","updated_at":"2026-07-24T03:54:25Z","subjects":[],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://docs.lib.purdue.edu/open_access_dissertations/1137","outbound_label":"Repository record","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Mara Faccio","Huseyin Gulen","Byoung Hwang","John McConnell"]},{"key":"dc:creator","label":"Author","values":["O'Brien, William"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"thesis:degree_discipline","label":"Discipline","values":["Management"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Doctor of Philosophy (PhD)"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["https://docs.lib.purdue.edu/open_access_dissertations/1137"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["Previous studies disagree about whether open market repurchase announcements contain information about earnings expectations. Using a regulation that made tax haven-using firms’ repurchases more costly as a quasi-natural experiment, I find positive post-repurchase-announcement revisions in earnings expectations for firms using “Double Irish” offshore tax avoidance structures. These results are robust to falsification tests, different types of tax havens, and changes in forecasted and actual earnings. “Double Irish” firms announce fewer repurchase programs than other firms after the regulation, consistent with an increase in their repurchasing costs. These results suggest that certain costly repurchases are announced when outsiders underestimate future earnings."]},{"key":"dc:title","label":"Title","values":["Detecting Earnings Information in Repurchase Announcements using the Luck of the (Double) Irish"]}]}],"canonical_facts":{"dc:contributor":["Mara Faccio","Huseyin Gulen","Byoung Hwang","John McConnell"],"dc:creator":["O'Brien, William"],"dc:description.abstract":["Previous studies disagree about whether open market repurchase announcements contain information about earnings expectations. Using a regulation that made tax haven-using firms’ repurchases more costly as a quasi-natural experiment, I find positive post-repurchase-announcement revisions in earnings expectations for firms using “Double Irish” offshore tax avoidance structures. These results are robust to falsification tests, different types of tax havens, and changes in forecasted and actual earnings. “Double Irish” firms announce fewer repurchase programs than other firms after the regulation, consistent with an increase in their repurchasing costs. These results suggest that certain costly repurchases are announced when outsiders underestimate future earnings."],"dc:identifier":["https://docs.lib.purdue.edu/open_access_dissertations/1137"],"dc:title":["Detecting Earnings Information in Repurchase Announcements using the Luck of the (Double) Irish"],"thesis:degree_discipline":["Management"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Doctor of Philosophy (PhD)"]},"updated_at":"2026-07-24T03:54:25Z"}