Devos, Erik; McInish, Thomas; McKenzie, Michael; Upson, … - In: The Journal of Real Estate Finance and Economics 49 (2014) 4, pp. 454-476
Naked short selling and purposeful fails-to-deliver have been identified in the popular press and by the SEC as contributing factors to the stock market decline in 2008. We investigate the market impact of the announcement that fails-to-deliver have occurred for a sample of real estate...