In theory, banning short selling stabilizes stock prices but undermines pricing efficiency and has ambiguous impacts on market liquidity. Empirical studies find mixed and conflicting results. This paper leverages cross-country policy variation during the 2020 Covid crisis to assess differential...

In theory, banning short selling stabilizes stock prices but undermines pricing efficiency and has ambiguous impacts on market liquidity. Empirical studies find mixed and conflicting results. This paper leverages cross-country policy variation during the 2020 Covid crisis to assess differential...

Using daily data from January 1, 2020 to March 31, 2021, this research explores COVID-19 shocks on the stock market of 15 representative oil exploration and production enterprises from 7 countries. We measure the COVID-19 epidemic from two levels, government response stringency index and number...