| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13788 |
| DP13788 Active Short Selling by Hedge Funds | |
| Ian Appel; Jordan Bulka; Vyacheslav Fos | |
| 发表日期 | 2019-06-09 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Short selling campaigns by hedge funds have become increasingly common in the last decade. Using a hand-collected sample of 252 campaigns, we document abnormal returns for targets of approximately -7% around the announcement date. Firm stakeholders, including the media, plaintiffs' attorneys, and other short sellers, play an important role in campaigns. Changes in aggregate short interest do not drive the effects on firm value and stakeholder behavior. Campaigns are primarily undertaken by activist hedge funds. Evidence suggests disclosure costs and information are important channels through which activism technology affects short selling. |
| 主题 | Financial Economics |
| URL | https://cepr.org/publications/dp13788 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542657 |
| 推荐引用方式 GB/T 7714 | Ian Appel,Jordan Bulka,Vyacheslav Fos. DP13788 Active Short Selling by Hedge Funds. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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