Chang, Eric C.; Cheng, Joseph W.; Pinegar, J. Michael; … - In: Pacific-Basin Finance Journal 20 (2012) 3, pp. 506-520
We examine the effects of short-sale constraints in Hong Kong where stocks can be shorted only if they are included on an official short-sale list. Using revisions to the list, we test two hypotheses — 1) that short-sale constraints lead to overvaluation and 2) that they lead to lower costs of...
