Political involvement has long been shown to be a profitable investment for firms that seek
favorable regulatory conditions or support in times of economic distress. But how important …

Prior research argues that the process of intermediation is opaque and produces uncertainty
about the riskiness of banks, which may adversely affect the efficiency of bank stock prices. …

This paper investigates the link between economic freedom and the price stability of individual
securities in a unique setting. Using a sample of 327 American Depositary Receipts (…

Using a combination of short-selling data made available by Regulation SHO and auditor
change data disclosed in companies’ SEC filings, we examine whether short sellers (a) …

Prior research argues that pessimistic traders can use options as substitutes for short sales
particularly when stocks are expensive to short. Motivated by this contention, we examine the …

Diether, Lee, and Werner (2009) show that, in general, short sellers are contrarian in both
contemporaneous and past returns and able to impressively predict future returns. This study …

In this article, we examine the methodological writings of James M. Buchanan and relate
them to those of the moral philosopher, Martin Buber. We analyze Buchanan’s views, both …

Prior work contends that informed short sellers do not stealth trade because the uptick rule
produces “execution uncertainty” and does not afford short sellers the opportunity to spread …

We find that stocks with higher levels of prelisting short activity have a greater probability of
option listing. These results are driven by the prelisting short activity of market makers, which …

In this study, we examine the trading activity of inverse ETFs in an attempt to explain whether
inverse ETF volume contains bearish information about future market prices. Our two main …