Market manipulation around seasoned equity offerings: Evidence prior to the Global Financial Crisis of 2007-2009

• Main Authors: CHAROENWONG, Charlie, DING, Kuan Yong David, WANG, Ping
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2022
• 主題: market manipulation; options market; seasoned equity offering; SEC Rule 10b-21; Finance and Financial Management; Portfolio and Security Analysis
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/7073; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8072/viewcontent/249217971_ijfs_10_00033_v3_pvoa_cc_by.pdf

Since the adoption of the SEC’s Rule 10b-21 in 1988, many researchers have been concerned over the effectiveness of short sales constraints in preventing manipulative trading in the derivatives market. We analyze whether options can be used as synthetic short sale instruments to manipulate stock pri...