منابع مشابه
Short sellers and corporate disclosures
We examine how short sellers affect corporate disclosures using a natural experiment. From May 2005 to July 2007, the SEC implemented a pilot program by randomly selecting one third of Russell 3000 stocks and removing the short sale price tests for these stocks (referred to as pilot firms), leading to lower short-selling constraint, without changing the requirement for other firms (referred to ...
متن کاملCan Short-sellers Predict Returns? Daily Evidence
We test whether short-sellers in U.S. stocks are able to predict future returns based on new SEC-mandated data for 2005. There is a tremendous amount of short-selling activity during the sample: Short-sales represent 24 percent of NYSE and 32 percent of Nasdaq share volume. Our analysis shows that short-sellers primarily target short-term overreaction in stock prices, but they are also able to ...
متن کاملThe Neglected Fluidity Control Tool: Short-term National Debt
In this article, we first analyze the process of the fluidity control of short-term national debt and think that the short-term national debt market with certain scale can reduce the impact of fluidity to commercial banks, then compare three tools usually used in open market operations, i.e. middle and long term national debt, central bank bill and short-term national debt and the results show ...
متن کاملSymposium : Disciplines , Professions , and Breakouts INDEPENDENT SCHOLARS : A NEGLECTED BREED Harold
T he status of public intellectuals and part-time faculty receives frequent attention, while that of independent scholars is usually ignored.Yet the production of more scholars than campuses employ inevitably puts a growing number outside the academic orbit. Either existing insti tutions--universities, research libraries, funding programs, scholarly societies, journals, and presses--will respon...
متن کاملDoing battle with short sellers: the conflicted role of blockholders in bear raids ?
If short sellers can destroy firm value by manipulating prices down, an informed blockholder has a powerful natural incentive to protect the value of his stake by trading against them. However, he also has a potentially conflicting incentive to use his information to generate trading profits. We show that a speculator can exploit this conflict and force the blockholder to buy a disproportionate...
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ژورنال
عنوان ژورنال: Pensions: An International Journal
سال: 2004
ISSN: 1750-208X
DOI: 10.1057/palgrave.pm.5940276