Paper Title
UNLOCKING VALUE: A DEEP DIVE INTO SHARE REPURCHASES AND EXCESS RETURNS IN THE US TECHNOLOGY SECTOR

Abstract
Abstract - In this study, we delve into the world of US tech firms, investigating their extraordinary returns through a comprehensive event study approach. Our exploration extends to understanding the immediate impact of stock repurchase announcements on short-term cumulative abnormal returns as well as long-term abnormal returns. Our empirical findings reveal that smaller firms with a higher book value-to-price ratio tend to experience both short-term cumulative abnormal returns and long-term abnormal returns. Furthermore, we discovered that the dividend payout ratio (Payout) exerts no significant influence on short-term CAR but exerts a notable impact on long-term abnormal returns (BHAR). JEL Classification: G14; G30 Keywords - Stock Repurchase; Cumulative Abnormal Returns; Buy and Hold Abnormal Returns