The Impact of Short Selling on Firms: An Empirical Literature Review

Jérôme Caby ()
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Jérôme Caby: IAE Paris - Sorbonne Business School

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Abstract: This review surveys the existing empirical literature on the real effects of short selling on firms, addressing them through three main perspectives: corporate governance, financial decisions, and performance. The results of the (too) few empirical studies under scrutiny converge to a common rationale: a positive impact as a disciplinary mechanism on corporate governance and corporate investment policy and a positive impact on operating and corporate social responsibility (CSR) performance, even if some results are still puzzling. It appears that further investigations are necessary and should test the consequences of short selling on firms from a broader and more systematic perspective, with different theoretical and methodological approaches

Keywords: short selling; real effects; corporate governance; investment; performance (search for similar items in EconPapers)
Date: 2020-09
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Citations: View citations in EconPapers (2)

Published in Journal of Business Accounting and Finance perspectives, 2020, 2 (3), ⟨10.35995/jbafp2030019⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02908593

DOI: 10.35995/jbafp2030019

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