There is a substantial literature on the level and volatility of interest rates. However, there is no agreement to date on the relationship between the two, e.g., whether higher interest rate volatility will result in higher or lower bond yields. Further, there is virtually no research on the...

We examine the market's reaction around a series of events on the Kuala Lumpur Stock Exchange (KLSE) where the Malaysian government removed short selling restrictions on selected stocks and then subsequently reimposed these restrictions. These events provide a unique opportunity to analyse the...