股票回購

股份回购是指公司重新收购自己的股份。^[1]相对于股息，它代表了一种更灵活的向股东返还资金的方式^[2]。在大多数国家，公司可以通过向现有股东返還现金来回购自己的股票，以换取公司的一部分流通股。

股票回購可以減少流通股數量，一般會帶來股價上漲。

積極回購的行動也是2024年美股科技股持續飆漲的原因之一。例如蘋果宣布1100億美元股票回購，Google母公司Alphabet推出700億美元回購計劃，Meta也推出了500億美元的回購計劃。^[3]

Andriosopoulos, Dimitris, and Meziane Lasfer. "The market valuation of share repurchases in Europe". Journal of Banking & Finance 55 (2015): 327–339. online （页面存档备份，存于互联网档案馆）
Jun, Sang-gyung, Mookwon Jung, and Ralph A. Walkling. "Share repurchase, executive options and wealth changes to stockholders and bondholders". Journal of Corporate Finance 15.2 (2009): 212–229.
Schumpeter, "Six muddles about share buy-backs: Stock repurchases by American firms are on the rise. So is the confusion surrounding them". The Economist 31 May 2018 （页面存档备份，存于互联网档案馆）.
Wesson, N., B. W. Bruwer, and W. D. Hamman. "Share repurchase and dividend payout behaviour: The South African experience". South African Journal of Business Management 46.3 (2015): 43–54.

股票回購后股價走勢