An Empirical Analysis of European Stock Repurchases Demissew D. Ejara* Kimberly C. Gleason** Chun I. Lee*** Preliminary; Please do not quote without permission *Contact Author, Associate Professor of Finance, University of New Haven, West Haven, CT 06516 Email: dejara@newhaven.edu Phone: (203) 932-7150 Fax: (203) 931- 6092 ** Assistant Professor of Finance, Florida Atlantic University, Davie FL 33314 *** Associate Professor of Finance, Loyola Marymount University, Los Angeles CA 1