Under short-sales restrictions, we document a phenomenon where the market reacts again to publicly available adverse information, to which it has already responded before. We employ a Japanese dataset endowed with distinctive regulatory features pertaining to trading restrictions for a specific...

Japanese markets have unique institutional attributes, which provide an ideal laboratory for investigating potential supply effects. These regulatory factors permit an examination of issue-day price effects, at the influx of additional shares from equity offerings, free of simultaneous release...

Under short-sales restrictions, we document a phenomenon where the market reacts again to publicly available adverse information, to which it has already responded before. We employ a Japanese dataset endowed with distinctive regulatory features pertaining to trading restrictions for a specific...