In theory, banning short selling stabilizes stock prices but undermines pricing efficiency and has ambiguous impacts on market liquidity. Empirical studies find mixed and conflicting results. This paper leverages cross-country policy variation during the 2020 Covid crisis to assess differential...

We examine the relevance of fair value accounting (SFAS 157) to investors through the innovative prism of investors' reaction to 44 key events (e.g., Lehman's demise) during late 2008, the peak of the world-wide financial crisis. Based on the nature of these events, we further classify these 44...

In theory, banning short selling stabilizes stock prices but undermines pricing efficiency and has ambiguous impacts on market liquidity. Empirical studies find mixed and conflicting results. This paper leverages cross-country policy variation during the 2020 Covid crisis to assess differential...