Banning Short Selling | Return and Liquidity Effects of Bans on Covered Short Selling During the 2008-2009 Financial Crisis

Rolf Dürr

ISBN 10: 3639368673 / ISBN 13: 9783639368673

Editore: VDM Verlag Dr. Müller, 2011

Banning Short Selling | Return and Liquidity Effects of Bans on Covered Short Selling During the 2008-2009 Financial Crisis | Rolf Dürr | Taschenbuch | Englisch | VDM Verlag Dr. Müller | EAN 9783639368673 | Verantwortliche Person für die EU: preigu GmbH & Co. KG, Lengericher Landstr. 19, 49078 Osnabrück, mail[at]preigu[dot]de | Anbieter: preigu. Codice articolo 106865432

Riassunto:

Although most researches conclude that short selling is beneficial to market efficiency, short selling has been banned in various stock markets during the 2008-2009 financial crisis. This study examines the effect of covered short selling bans on banned stocks in terms of return and liquidity characteristics in four different equity markets (US, Canada, Great Britain, Denmark) during this period. Since these markets contain stocks which have been affected by the ban as well as stocks that have not been affected, they offer a special opportunity for research. Results of this study imply, that no beneficial effects resulted from the ban. In three out of four examined markets short selling bans had negative effects on banned stocks in terms of liquidity, returns or intraday volatility.

L'autore: Rolf Dürr holds a master degree in banking and finance from the University of St. Gallen. Currently he works as a consultant for financial services firms in Zurich.

Dati bibliografici

Titolo: Banning Short Selling | Return and Liquidity...
Casa editrice: VDM Verlag Dr. Müller
Data di pubblicazione: 2011
Legatura: Taschenbuch
Condizione: Neu