Accounting#36tier 1live in production
buyback drift
cadence: Quarterlydata: mediumlong only
NBER
1995
NBER working paper
#36 buyback_drift — Ikenberry-Lakonishok-Vermaelen 1995 / Peyer-Vermaelen 2009.
Citation only — paper link pending.
Mechanism
Companies announcing open-market share repurchases earn ~3-4% abnormal return over the subsequent 12 months. Effect is strongest in "value-distressed" announcers (book-to-market in the top quartile, recent price
Data dependencies
daily_pricesAdjusted-close OHLCV for every US-listed ticker; primary price feed.
fundamentalsQuarterly fundamentals (income, balance, cash-flow) from FMP + SEC.
Expected edge
Companies announcing open-market share repurchases earn ~3-4% abnormal return over the subsequent 12 months.
Illustrative pattern only
NOT a backtestIllustrative pattern only — see /app for live backtests and the actual current equity curve.
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