First semester Corporate Finance. Try Brealey & Myers or Copeland & Weston. The author may have a point that he was signaling they had nothing better to do wit

First semester Corporate Finance. Try Brealey & Myers or Copeland & Weston. The author may have a point that he was signaling they had nothing better to do with the funds. But, it's hard to say the share price would not have been worse, since this happened in a downtrending market. There is a potential confounding fallacy in that the author doesn't seem to get.