Received: 24 June 2020  Accepted: 8 July 2021
DOI: 10.1111/mafi.12332

ORIGINAL ARTICLE


On buybacks, dilutions, dividends, and the
pricing of stock-based claims
Alex Backwell1           Thomas A. McWalter1,2                Peter H. Ritchken1,3
1The African Institute of Financial
Markets and Risk Management,              Abstract
University of Cape Town, Cape Town,          We develop a structural model of the firm that accounts
South Africa
                            for dilutions, resulting  ...