Search Results - subject:"Short‐sale constraints"

Price inflation and wealth transfer during the 2008 SEC short-sale ban

Harris, Lawrence E.; Namvar, Ethan; Phillips, Blake - In: Journal of investment management : JOIM 11 (2013) 2, pp. 5-27

Persistent link: https://www.econbiz.de/10009763938

The intended and collateral effects of short-sale bans as a regulatory tool

Hendershott, Terrence; Namvar, Ethan; Phillips, Blake - In: Journal of investment management : JOIM 11 (2013) 3, pp. 5-13

Persistent link: https://www.econbiz.de/10010196024

Default prediction around the world : the effect of constraints on pessimistic trading

Maffett, Mark; Owens, Edward; Srinivasan, Anand - 2013

We examine how equity-market frictions that restrict pessimistic trading, such as short-sale constraints, affect … an exogenous shock, we document that short-sale constraints lead to higher credit spreads. Overall, our results …

Persistent link: https://www.econbiz.de/10010250688

The Uptick Rule and Short-Selling Strategies

Kevin (Min) Zhao - Economics and Finance Department, Jennings A. Jones … - 2012

us with a unique setting to investigate the impact of short-sale constraints on various short-selling strategies in a …

Persistent link: https://www.econbiz.de/10010599282

Dynamic short‐sale constraints, price limits, and price dynamics

Lin, Tse‐Chun - In: International Journal of Managerial Finance 8 (2012) 3, pp. 256-279

Purpose – The purpose of this paper is to take advantage of a natural experiment in Taiwan to test the effect of short‐sales constraints on price dynamics. Design/methodology/approach – Since September 1998, short‐selling is banned at a price below the close price of the previous trading...

Persistent link: https://www.econbiz.de/10014785353

Short-sale constraints: Reductions in costs of capital or overvaluation? Evidence from Hong Kong

Chang, Eric C.; Cheng, Joseph W.; Pinegar, J. Michael; … - In: Pacific-Basin Finance Journal 20 (2012) 3, pp. 506-520

We examine the effects of short-sale constraints in Hong Kong where stocks can be shorted only if they are included on … an official short-sale list. Using revisions to the list, we test two hypotheses — 1) that short-sale constraints lead to … that short-sale constraints reduce capital costs. …

Persistent link: https://www.econbiz.de/10011043176

Short selling of ADRs and foreign market short-sale constraints

Blau, Benjamin M.; Ness, Robert A. Van; Warr, Richard S. - In: Journal of Banking & Finance 36 (2012) 3, pp. 886-897

We examine the effect of home market short-sale constraints on securities that also trade in other countries that have … home market short-sale constraints because these ADRs are more often subject to temporary misvaluation. …

Persistent link: https://www.econbiz.de/10010577968

Primary market characteristics and secondary market frictions of stocks

Boehme, Rodney; Çolak, Gönül - In: Journal of Financial Markets 15 (2012) 2, pp. 286-327

information constraints, and worse short-sale constraints. Underpriced IPOs are more liquid and more recognizable, but they have … higher idiosyncratic risk and higher short-sale constraints. Also, we find an interesting time trend in the evolution of the …

Persistent link: https://www.econbiz.de/10011047532

Short-sale constraints and efficiency of the spot–futures dynamics

McMillan, David G.; Philip, Dennis - In: International Review of Financial Analysis 24 (2012) C, pp. 129-136

This paper studies the spot and futures cross-market efficiency implications of the regulatory short-selling constraints imposed during the 2008–2009 financial crisis. We find that the equilibrium position for the basis during the ban period is below that normally seen, with the spot price...

Persistent link: https://www.econbiz.de/10010595125

Dynamic short-sale constraints, price limits, and price dynamics

Lin, Tse-Chun - In: International Journal of Managerial Finance 8 (2012), pp. 256-279

Purpose – The purpose of this paper is to take advantage of a natural experiment in Taiwan to test the effect of short-sales constraints on price dynamics. Design/methodology/approach – Since September 1998, short-selling is banned at a price below the close price of the previous trading...

Persistent link: https://www.econbiz.de/10010610539