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

• Main Authors: LI, Yinghua, ZHANG, Liandong
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2015
• 主題: Regulation SHO; short selling; corporate disclosure; forecast precision; annual report readability; managerial incentives; Accounting; Corporate Finance
• 在線閱讀: 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
• 機構: Singapore Management University

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...