Short sales constraint and SEO pricing
We examine the influence of SEC's Rule 105 on informed trading and the information content of stock prices around an SEO's offer day. We show that constraints on short sales inhibit informed trading and hamper incorporation of information into stock prices for offers whose traders have pri...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3600 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4599/viewcontent/SSRN_id1934280.pdf |
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| Institution: | Singapore Management University |
| Language: | English |