Liquid institutions’ response to the presence of short sellers in the market

Detalhes bibliográficos
Autor(a) principal: Oliveira, Joana Carolina Carvalho
Data de Publicação: 2017
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/26202
Resumo: The aim of this study is to examine the influence of institutions' liquidity on the level of lending supply, short sale constraints and future stock returns, after an increase in shorting demand. By considering the interaction between outward demand shocks and the level of institutions’ liquidity we find that, in times of increasing shorting demand, the level of institutions’ liquidity is not responsible for either restricting the entrance of novel short sellers in the market or hurting existing ones; in addition, we do not find evidence of any decrease in lending supply or future returns, nor increases in loan fees or arbitrage risk.
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spelling Liquid institutions’ response to the presence of short sellers in the marketShort sale constraintsLiquid institutional investorsEquity-lending supplyStock returnsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe aim of this study is to examine the influence of institutions' liquidity on the level of lending supply, short sale constraints and future stock returns, after an increase in shorting demand. By considering the interaction between outward demand shocks and the level of institutions’ liquidity we find that, in times of increasing shorting demand, the level of institutions’ liquidity is not responsible for either restricting the entrance of novel short sellers in the market or hurting existing ones; in addition, we do not find evidence of any decrease in lending supply or future returns, nor increases in loan fees or arbitrage risk.Prado, MelissaRUNOliveira, Joana Carolina Carvalho2018-01-20T01:30:27Z2017-01-202017-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/26202TID:201714752enginfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:13:47Zoai:run.unl.pt:10362/26202Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:28:27.433685Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Liquid institutions’ response to the presence of short sellers in the market
title Liquid institutions’ response to the presence of short sellers in the market
spellingShingle Liquid institutions’ response to the presence of short sellers in the market
Oliveira, Joana Carolina Carvalho
Short sale constraints
Liquid institutional investors
Equity-lending supply
Stock returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Liquid institutions’ response to the presence of short sellers in the market
title_full Liquid institutions’ response to the presence of short sellers in the market
title_fullStr Liquid institutions’ response to the presence of short sellers in the market
title_full_unstemmed Liquid institutions’ response to the presence of short sellers in the market
title_sort Liquid institutions’ response to the presence of short sellers in the market
author Oliveira, Joana Carolina Carvalho
author_facet Oliveira, Joana Carolina Carvalho
author_role author
dc.contributor.none.fl_str_mv Prado, Melissa
RUN
dc.contributor.author.fl_str_mv Oliveira, Joana Carolina Carvalho
dc.subject.por.fl_str_mv Short sale constraints
Liquid institutional investors
Equity-lending supply
Stock returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Short sale constraints
Liquid institutional investors
Equity-lending supply
Stock returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description The aim of this study is to examine the influence of institutions' liquidity on the level of lending supply, short sale constraints and future stock returns, after an increase in shorting demand. By considering the interaction between outward demand shocks and the level of institutions’ liquidity we find that, in times of increasing shorting demand, the level of institutions’ liquidity is not responsible for either restricting the entrance of novel short sellers in the market or hurting existing ones; in addition, we do not find evidence of any decrease in lending supply or future returns, nor increases in loan fees or arbitrage risk.
publishDate 2017
dc.date.none.fl_str_mv 2017-01-20
2017-01-20T00:00:00Z
2018-01-20T01:30:27Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/26202
TID:201714752
url http://hdl.handle.net/10362/26202
identifier_str_mv TID:201714752
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/embargoedAccess
eu_rights_str_mv embargoedAccess
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dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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