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Short selling regulation after the financial crisis : first principles revisited

Grünewald, Seraina Neva; Wagner, Alexander F.; Weber, … - 2009

This article examines the recent regulatory developments with regard to short selling. Short selling regulation is an important factor in firm governance because it affects the way in which firms are subject to market discipline. We begin with a comprehensive compilation of emergency...

Persistent link: https://www.econbiz.de/10003970469

The granular nature of large institutional investors

Ben-David, Itzhak; Franzoni, Francesco; Moussawi, Rabih; … - 2016

Large institutional investors own an increasing share of equity markets in the U.S. The implications of this development for financial markets are still unclear. The paper presents novel empirical evidence that ownership by large institutions predicts higher volatility and greater noise in stock...

Persistent link: https://www.econbiz.de/10011514119

Crashes and high frequency trading : [an evaluation of risks posed by high-speed algorithmic trading]

Becke, Susanne von der; Sornette, Didier - 2011

Persistent link: https://www.econbiz.de/10009561750

Paths to convergence : stock price behavior after Donald Trump's election

Wagner, Alexander F.; Zeckhauser, Richard; Ziegler, … - 2018 - This version: February 10, 2018

How do market prices adjust towards stability after a shock? Tracking individual stock prices following their dramatic shakeup after Donald Trump's surprise election provides an answer. Prices moved overwhelmingly in the appropriate direction on the first post-election day, albeit much too...

Persistent link: https://www.econbiz.de/10011814700

Relationship trading in OTC markets

Hendershott, Terrence; Li, Dan; Livdan, Dmitry; … - 2017

We examine the network of trading relations between insurers and dealers in the over-the-counter corporate bond market. Comprehensive regulatory data shows that many insurers use only one dealer while the largest insurers have networks of up to forty dealers. Large insurers receive better prices...

Persistent link: https://www.econbiz.de/10011865497

Macroeconomic Forecasting using Filtered Signals from a Stock Market Cross Section

Chatelais, Nicolas; Stalla-Bourdillon, Arthur; Chinn, … - National Bureau of Economic Research - 2022

After the Covid-shock in March 2020, stock prices declined abruptly, reflecting both the deterioration of investors' expectations of economic activity as well as the surge in aggregate risk aversion. In the following months however, whereas economic activity remained sluggish, equity markets...

Persistent link: https://www.econbiz.de/10013334522

Business Groups : Panics, Runs, Organ Banks and Zombie Firms

Colpan, Asli M.; Morck, Randall - National Bureau of Economic Research - 2021

Business groups often contain banks or near banks that can protect group firms from economic shocks. A group bank subordinate to other group firms can become an "organ bank" that selflessly bails out distressed group firms and anticipates a government bailout. A group bank subordinating other...

Persistent link: https://www.econbiz.de/10012599325

Regulating Conglomerates in China : Evidence from an Energy Conservation Program

Chen, Qiaoyi; Chen, Zhao; Liu, Zhikuo; Suárez Serrato, … - National Bureau of Economic Research - 2021

We study a prominent energy regulation affecting large Chinese manufacturers that are part of broader conglomerates. Using detailed firm-level data and difference-in-differences research designs, we show that regulated firms cut output and shifted production to unregulated firms in the same...

Persistent link: https://www.econbiz.de/10012599356

Business Group Spillovers

Naaraayanan, S. Lakshmi; Wolfenzon, Daniel - National Bureau of Economic Research - 2023

We compare the investment of standalone firms across regions after a positive shock to the investment opportunities generated by a large-scale highway development project. We show that the standalones' investment sensitivity is lower in regions with a higher density of business groups in the...

Persistent link: https://www.econbiz.de/10014250125

Trust and Health Care-Seeking Behavior

Darden, Michael; Macis, Mario - National Bureau of Economic Research - 2024

expressing health care-seeking behavior as a function of economic and behavioral fundamentals and highlighting the role of trust …. We report several findings. First, we document a strong association between higher levels of trust in the health care … scenarios, from routine check-ups to vaccinations. Second, the impact of trust on health care utilization is similar in …

Persistent link: https://www.econbiz.de/10014468228