Go Down Fighting: Short Sellers vs. Firms

Owen Lamont

No 10659, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: I study battles between short sellers and firms. Firms use a variety of methods to impede short selling, including legal threats, investigations, lawsuits, and various technical actions intended to create a short squeeze. These actions create short sale constraints. Consistent with the hypothesis that short sale constraints allow stocks to be overpriced, firms taking anti-shorting actions have in the subsequent year very low abnormal returns of about -2 percent per month.

JEL-codes: G14 (search for similar items in EconPapers)
Date: 2004-07
Note: AP CF
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

Published as O. A. Lamont, 2012. "Go Down Fighting: Short Sellers vs. Firms," Review of Asset Pricing Studies, vol 2(1), pages 1-30.

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