| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 961595 | Journal of Financial Markets | 2012 | 27 Pages |
Abstract
⺠Stocks with the most stringent short sales constraints exhibit significant abnormal returns. ⺠Allowing naked short sales increases price volatility and reduces liquidity. ⺠Increases in the bid-ask spread are driven by higher adverse selection costs. ⺠The demand for securities lending is reduced once naked short selling is allowed.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Steven Lecce, Andrew Lepone, Michael D. McKenzie, Reuben Segara,