Zhao, Min (Kevin) - In: Economia Internazionale / International Economics 62 (2009) 4, pp. 505-530
In this paper I investigate the impact of short sale constraints on stock returns using Regulation SHO data on the NASDAQ in 2005. Extant theories suggest that removing the bid-price test rule on the NASDAQ for the so called ‘pilot stock’ would mitigate stock overvaluation. The results in...
