Variable

Large Size

Small Size

Introductory Firm

Growth Firm

Constant

−1.0***, −0.7***, −0.7***

−1.9***^, −2.0***, −1.7***

−0.8***, −1.1***,−1.3***

−0.4***, −0.5***^,−0.7***

Number of Shares Repurchased

1.4 x 10⁻¹***, 0.1, 0.3,

0.3***, −0.9, −1.6

0.1**. 1.2, −0.1

0.2**, 0.5, 0.5

Net Income

3.3 x 10⁻¹***, 0.2***, 0.1***

0.7***, 0.4***, 0.1*

0.4***, 0.1***, −0.0

0.5***, 0.2***^,, 0.0

Revenue

−7.8 x 10⁻²***, 0.1***,0.08***

−0.07***, 0.1, 0.1*

−0.1***, 0.0, 0.2***

−0.1***, −0.0, 0.1**

Maturity

Decline

Technology Sector

Non−Technology Sector

Constant

−0.6***, −0.9***,−0.9***

−1.5***, −1.7***,−2.8***

−1.2***, −1.3***,−1.7***

−0.3***, −0.8***,−0.5***

Number of Shares Repurchased

0.2***, −1.4*, 0.4

0.2, 1.5, 0.0

0.2***, −2.6*, −1.4

0.1***, 0.6, 0.8

Net Income

0.5***, 0.2***, 3.7 x 10⁻⁴

0.4, 0.3*, 0.3

0.4***, 0.2***, 0.0

0.5***, 0.2***, 0.1*

Revenue

−0.2***, 5.6 x 10⁻³, 0.1

−0.1***, −0.0, 0.2

−0.0, 0.0, 0.2***

−0.2***, −0.03, −0.05

Overseas Cash

Institutional Ownership

Constant

−4.2, −126.7***, 6.9

−0.2, −0.5***, −0.3*

Number of Shares Repurchased

0.05, 0.0, 0.0

0.1***, 0.5, 0.7

Net Income

0.9*, 19.5***, 0.9

0.5***, 0.2***, 0.1

Revenue

0.2, 26.1***, −0.5

−0.2***, −0.1, −0.1