An Analysis Of Short Selling S Role In The Recent Financial Crisis And The Effectiveness Of Short Selling Restrictions
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An Analysis Of Short Selling S Role In The Recent Financial Crisis And The Effectiveness Of Short Selling Restrictions
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Author : Richard M. Scialabba
language : en
Publisher:
Release Date : 2010
An Analysis Of Short Selling S Role In The Recent Financial Crisis And The Effectiveness Of Short Selling Restrictions written by Richard M. Scialabba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This paper goes into depth regarding short selling, short selling restrictions and the most recent financial crisis. Through statistical tests and analyses, I set out to illustrate how short selling impacted the market during the crisis, as well as, the effect of short selling restrictions on financial stock characteristics like return, volume and volatility. The paper will begin with an explanation of short selling and some background to the financial crisis. It will be followed by data selection and analysis and will end with conclusions brought about by the statistical tests. I will tailor my report for those who have a minimal finance background, hoping to educate the average investor, so they, too, will be able to form a well-versed opinion of short selling.
Impact Of Diverse Short Selling Restrictions On Liquidity Market Quality And Information Content Of Short Sales
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Author : Christian Fleischer
language : en
Publisher: GRIN Verlag
Release Date : 2011-08-22
Impact Of Diverse Short Selling Restrictions On Liquidity Market Quality And Information Content Of Short Sales written by Christian Fleischer and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-22 with Business & Economics categories.
Seminar paper from the year 2011 in the subject Economics - Finance, grade: 1,7, Karlsruhe Institute of Technology (KIT) (FBV), language: English, abstract: Die Arbeit befasst sich mit den Auswirkungen verschiedener Leerverkaufsbeschränkungen auf Liquidität, Markt Qualität und Informationsgehalt von Leerverkäufen. Basierend auf einer Paper von Kolasinski et al. wird zunächst in die Thematik eingeführt bevor im Anschluss die zentralen Begriffe definiert und in den Kontext eingeordnet werden. Abschließend werden einige von Kolasinki et al. aufgestellte Thesen logisch hergeleitet und deren empirische Überprüfung beschrieben.
Short Selling Bans And Institutional Investors Herding Behaviour
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Author : Martin T. Bohl
language : en
Publisher:
Release Date : 2013
Short Selling Bans And Institutional Investors Herding Behaviour written by Martin T. Bohl and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Assets (Accounting) categories.
"Surprisingly, little is known about the effects of short-sale constraints on herd behaviour. Since institutional investors have come to dominate mature stock markets and rely extensively on short sales, constraining these traders may influence the asset pricing process. The literature on short-selling restrictions focusses mainly on a ban's impact on market efficiency, liquidity and overpricing. The authors examine bans on selected financial stocks in six countries during the 2008-2009 global financial crisis, which provided a setting to analyze the impact of short-sale restrictions. In particular, the authors focussed on short-sale constraints' effect on institutional investors' trading behaviour and the possibility of generating herding behaviour. They conclude that the empirical evidence shows that short-selling restrictions exhibit either no influence on herding formation or induce adverse herding." --
Are Short Sellers Positive Feedback Traders
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Author : Martin T. Bohl
language : en
Publisher:
Release Date : 2013
Are Short Sellers Positive Feedback Traders written by Martin T. Bohl and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Economic stabilization categories.
The Regulation Of Short Selling
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Author : Konstantinos Sergakis
language : en
Publisher:
Release Date : 2019
The Regulation Of Short Selling written by Konstantinos Sergakis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
While it is by no means a new trading strategy, short selling has attracted considerable attention on the part of regulators and the public over the last decade. In the midst of the financial crisis, securities markets regulators across the world imposed temporary bans or constraints on short selling. The regulators' interventions sought “to restore the orderly functioning of securities markets and limit unwarranted drops in securities prices capable of exacerbating the crisis”. Following the crisis, the success of Michael Lewis' book The Big Short - and subsequent movie - heightened the interest of the public towards this controversial trading strategy. Although regulators have lifted rapidly the temporary bans, the issues raised by short selling have continued to elicit debate in the academic, business and policy-making communities. If short selling attracts such attention, it is arguably because it poses challenges for the goals of financial markets regulation. Indeed, short selling involves market efficiency, stability and integrity. More troubling, it can both support and disrupt these goals, as underscore the mixed empirical record and the anecdotal evidence. Likewise, as commentators have more recently pointed out, short selling has implications for corporate governance. In particular, it can be a powerful tool to uncover fraud, but at the same time unsettle shareholder democracy. Given the breadth of the issues associated with short selling, the academic literature, in both law and financial economics, is vast. Against this rich theoretical and empirical backdrop, the purpose of this paper, which flows from a panel discussion between its three authors, is modest. At a general level, the paper seeks to foster the Trans-Atlantic dialogue on financial markets regulation, taking short selling as a case study. Specifically, it aims at providing a critical perspective on the regulatory choices and techniques used in Europe and Canada for dealing with the issues raised by short selling.
Short Selling
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Author : James Clunie
language : en
Publisher: Harriman House Limited
Release Date : 2013-09-20
Short Selling written by James Clunie and has been published by Harriman House Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-20 with Business & Economics categories.
What is short-selling? And is it as profitable - or as dangerous - as it can seem? In this highly focused eBook, financial expert and author James Clunie reveals everything you need to know about the art of short-selling without wasting your time. Cutting to the quick, it lays bare: - all major short-selling techniques: quantitative, forensic accounting, thematic investing, fair value analysis, balance sheet weakness/financial distress, and exploiting market ecology - the advantages and disadvantages of each short-selling approach, and their rates of success and failure - where short-sellers get their information from - how short-sellers try to practise risk management and much more! With a low-growth atmosphere and markets still nervous in the wake of recent financial crises, there has never been a better time to get on top of what it means to be a successful short-seller. Short Selling by James Clunie is the most time and cost-effective way to start getting ahead of other traders and investors now.
Do Short Selling Regulations Matter
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Author : Giannoula Karamichailidou
language : en
Publisher:
Release Date : 2013
Do Short Selling Regulations Matter written by Giannoula Karamichailidou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Global Financial Crisis, 2008-2009 categories.
This Time Is Not Different
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Author : Pierre Leslie Siklos
language : en
Publisher:
Release Date : 2012
This Time Is Not Different written by Pierre Leslie Siklos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Financial crises categories.
Should Short Selling Be Restricted During A Financial Crisis
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Author : Iftekhar Hasan
language : en
Publisher:
Release Date : 2014
Should Short Selling Be Restricted During A Financial Crisis written by Iftekhar Hasan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This paper investigates the short selling of financial company stocks around the time of the SEC September 2008 short-selling ban. More specifically, this paper examines whether this short selling, mainly by hedge funds and other types of sophisticated investors, was purely speculative or whether it was driven by rational behavior in response to a financial company's risk exposure, such as its holdings of subprime-related assets and its credit risk exposure. Our results show that during the crisis period the short-selling of financial firms stock was not significantly greater than that of non-financial firms, even after controlling for size and risk. More importantly, our results show that short sellers rationally short sold those financial company stocks with the greatest subprime and insolvency risk exposures. This finding has important implications regarding banning short selling, since it suggests that such a regulation may mute the disciplining effects of investors in the financial market on those financial companies with the greatest risk exposures and would be contrary to the intentions of bank regulators who have emphasized an increased reliance on market discipline.
Handbook Of Short Selling
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Author :
language : en
Publisher: Academic Press
Release Date : 2018-10-30
Handbook Of Short Selling written by and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-30 with Business & Economics categories.
This comprehensive examination of short selling, which is a bet on stocks declining in value, explores the ways that this strategy drives financial markets. Its focus on short selling by region, its consideration of the history and regulations of short selling, and its mixture of industry and academic perspectives clarify the uses of short selling and dispel notions of its destructive implications. With contributions from around the world, this volume sheds new light on the ways short selling uncovers market forces and can yield profitable trades.