Share repurchases have been a prevailing mechanism in paying out cash to shareholders. In terms of payout amount, share repurchases are equally important as cash dividends, yet share repurchases alter more firm’s characteristics than do dividends. In this workshop, I will introduce recent development in repurchase researches, including signaling effect, role of insider trading, wealth transfer effect associated with repurchases and other topics. From academic papers, we know that although the benefit associated with repurchases are limited; shareholders still can select s subset of repurchases to enhance their wealth.