Séminaires de recherche

Retail Short Selling and Stock Prices

Finance

Intervenant : Paul Tetlock
Columbia Unviversity

9 octobre 2014

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This study tests asset pricing theories that feature short selling using a large

database of retail trading. We find that retail short selling negatively predicts

firms’ monthly stock returns and news tone, even controlling for overall short

selling. Predictability from retail shorting is strongest in stocks with low analyst

and media coverage, high idiosyncratic volatility, and high turnover; it does not

depend on short sales constraints. Retail buying positively predicts returns in

similar types of stocks. These results are consistent with the theory that retail

short selling informs market prices, but are inconsistent with alternative theories

in which retail short selling is a proxy for sentiment or attention.

Finance

Intervenant : Matthieu Bouvard
Desautels Faculty of Management

14 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Mikhail Simutin
Rotman School of Management

7 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Liyan Yang
Rotman School of Management

31 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Anton Lines
Columbia Business School

24 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Ian Martin
LSE

17 mai 2018 - De 14h00 à 15h15



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