Short selling pressure, stock price behavior, and management forecast precision: Evidence from a natural experiment

Short selling pressure, stock price behavior, and management forecast precision: Evidence from a natural experiment

Using a natural experiment (Regulation SHO), we show that short selling pressure and consequent stock price behavior have a causal effect on managers' voluntary disclosure choices. Specifically, we find that managers respond to a positive exogenous shock to short selling pressure and price sens...

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Bibliographic Details
Main Authors: LI, Yinghua, ZHANG, Liandong
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
Subjects:
Regulation SHO
short selling
corporate disclosure
forecast precision
annual report readability
managerial incentives
Accounting
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/soa_research/1700
https://ink.library.smu.edu.sg/context/soa_research/article/2727/viewcontent/ShortSellingPressureStockPriceBehavior_2014_pp.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soa_research/1700
https://ink.library.smu.edu.sg/context/soa_research/article/2727/viewcontent/ShortSellingPressureStockPriceBehavior_2014_pp.pdf

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