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Title: Australian share buybacks - emerging issues
Author: O'Mahoney, Greg Owen Joseph
ISNI:       0000 0001 3453 2740
Awarding Body: University of Oxford
Current Institution: University of Oxford
Date of Award: 2007
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Why do companies repurchase shares? Are buybacks just another means of distributing excess cash to shareholders or are they used to achieve more questionable objectives? Are creditors and shareholders adequately protected against misuse of the repurchase power? These are important questions because buybacks have become a significant and widely accepted part of corporate practice in Australia. However, Australian law governing the repurchase power is in an unsatisfactory state. This thesis considers the dimensions of the buyback power in Australia, its implications for various stakeholders and the extent to which statutory provisions and common law principles militate against its abuse. The permissive approach to repurchases adopted by Australia's Federal Parliament legislature and corporate regulator, is challenged.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available