selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence … suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short … disciplining effects of investors and may also serve as a counterweight to any perceived macro or systemic risk reduction benefits …

selling activity before the 2008 short ban reflected financial companies’ risk exposures in the subprime crisis. The evidence … suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short … disciplining effects of investors and may also serve as a counterweight to any perceived macro or systemic risk reduction benefits …

selling activity before the 2008 short ban reflected financial companies’ risk exposure in the subprime crisis. Evidence … suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short … size and insolvency risk. When the short ban was in effect, the market quality of financial stocks without subprime assets …

selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence … suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short … disciplining effects of investors and may also serve as a counterweight to any perceived macro or systemic risk reduction benefits …

's risk exposure, such as its holdings of subprime-related assets and its credit risk exposure. Our results show that during …-financial firms, even after controlling for size and risk. More importantly, our results show that short sellers rationally short sold … those financial company stocks with the greatest subprime and insolvency risk exposures. This finding has important …

and the banks' failure probability. In the model, banks adopt the Value-at-Risk rule to make the capital structure … decisions and the risk of contagion is neglected. The paper finds that interconnectedness may either increase or decrease the …

argument that conservatism is an efficient governance mechanism to mitigate information risk and control for agency problems …