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Short selling activities and convertible bond arbitrage : empirical evidence from the New York stock exchange

Werner, Sebastian P. - 2010 - 1. Aufl.

Persistent link: https://www.econbiz.de/10003846505

Short Selling Activities and Convertible Bond Arbitrage : Empirical Evidence from the New York Stock Exchange

Werner, Sebastian P. - 2010

others. This statement coincides with the increasing use of arbitrage-related hedge fund strategies whereas it collides with … Werner examines aggregate short sales and convertible bond arbitrage, which is a typical hedge fund strategy that involves a … difference in the trading pattern, information content and resulting impact on stock returns of arbitrage- versus valuation …

Persistent link: https://www.econbiz.de/10013522889

Short Selling Around Corporate Acquisitions

Doukas, John A. - 2010

Using daily short sale transactions data for firms traded in the Taiwan Stock Exchange (TWSE) from January 1991 to January 2007, we examine the pattern of short selling trading prior to 338 acquisition announcements. Consistent with the view that short sellers act as informed traders, we find...

Persistent link: https://www.econbiz.de/10013139762

Why are Convertible Bond Announcements Associated with Increasingly Negative Abnormal Stock Returns? An Arbitrage-Based Explanation

Duca, Eric - 2012

arbitrage funds. These funds buy convertibles and short the underlying stocks, causing downward price pressure. Consistent with …-1999) and the Arbitrage period (2000-September 2008) disappear when controlling for arbitrage-induced short selling associated … with a range of hedging strategies. Post-issuance stock returns are also in line with the arbitrage explanation. Average …

Persistent link: https://www.econbiz.de/10013115665

Short-Sale Constraints, Information Acquisition, and Asset Prices

Nezafat, Pedram - 2017

During financial crises, financial market regulators often restrict short-selling to support prices and curb volatility. However, evidence suggests that short-selling bans during the turmoil in financial markets in 2007--2009 failed to achieve regulators' goals. We analyze a model of costly...

Persistent link: https://www.econbiz.de/10012974452

Short-sale constraints, information acquisition, and asset prices

Nezafat, Mahdi; Schroder, Mark D.; Wang, Qinghai - In: Journal of economic theory 172 (2017), pp. 273-312

Persistent link: https://www.econbiz.de/10011777061

Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Parigi, Bruno Maria - 2014

managerial agency problem correctly. Our theory assumes that strict corporate governance prevents managers from diverting cash …

Persistent link: https://www.econbiz.de/10013063851

Carbon boards and transition risk: explicit and implicit exposure implications for total stock returns and dividend payouts

Mazzarano, Matteo; Guastella, Gianni; Pareglio, Stefano; … - 2021

The Security and Exchange Commission (SEC) has considered climate change as a risk issue since 2010. Several emission disclosure initiatives exist aimed at informing investors about the financial risks associated with a zero or low carbon transition. Stricter regulations, particularly in a few...

Persistent link: https://www.econbiz.de/10012694482

Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Parigi, Bruno Maria; Pelizzon, Loriana; von Thadden, … - 2021

This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate …

Persistent link: https://www.econbiz.de/10013315674

Why are Convertible Bonds Called Late : Is it Notice Period or the Risk of Financial Distress?

Ekkaryokkaya, Pollarat - 2010

delay (i.e. a matter of a few weeks rather than several months). An earlier, but largely untested, theory attributes the …. Consistent with this theory we find for a sample of US convertibles that: (i) the average firm delays calling its convertible …

Persistent link: https://www.econbiz.de/10013147810

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