We examine short selling around dividend announcements and ex-dividend dates. Contrary to our initial expectation, we do not find abnormally high short-selling activity prior to announced dividend decreases, which runs counter to the argument that short sellers have the ability to acquire...

We examine short selling around dividend announcements and ex-dividend dates. Contrary to our initial expectation, we do not find abnormally low (high) short-selling activity prior to announced dividend increases (decreases), which runs counter to the argument that short sellers have the ability...

Easley, Hvidkjaer, and O'Hara (2002), building upon the asset pricing model of Fama and French (1992), show that the probability of informed trading (PIN) is a determinant of asset returns for NYSE-listed securities. We extend this work by examining whether the PIN is a predictive factor for...