Skip navigation
  •  Inicio
  • UDC 
    • Cómo depositar
    • Políticas do RUC
    • FAQ
    • Dereitos de Autor
    • Máis información en INFOguías UDC
  • Percorrer 
    • Comunidades
    • Buscar por:
    • Data de publicación
    • Autor
    • Título
    • Materia
  • Axuda
    • español
    • Gallegan
    • English
  • Acceder
  •  Galego 
    • Español
    • Galego
    • English
  
Ver ítem 
  •   RUC
  • Publicacións UDC
  • Revistas UDC
  • European Journal of Government and Economics
  • REV - EJGE - Vol. 06, Nº 01, 2017
  • Ver ítem
  •   RUC
  • Publicacións UDC
  • Revistas UDC
  • European Journal of Government and Economics
  • REV - EJGE - Vol. 06, Nº 01, 2017
  • Ver ítem
JavaScript is disabled for your browser. Some features of this site may not work without it.

The Short Selling Regulation in the EU: Assessing the Authorization Granted for ESMA to Prohibit Short Selling

Thumbnail
Ver/abrir
EJGE_2017_6_1_1.pdf (262.0Kb)
Use este enlace para citar
http://hdl.handle.net/2183/23445
Atribución 4.0 España
A non ser que se indique outra cousa, a licenza do ítem descríbese como Atribución 4.0 España
Coleccións
  • REV - EJGE - Vol. 06, Nº 01, 2017 [4]
Metadatos
Mostrar o rexistro completo do ítem
Título
The Short Selling Regulation in the EU: Assessing the Authorization Granted for ESMA to Prohibit Short Selling
Autor(es)
Huhtilainen, Matias
Data
2017
Cita bibliográfica
Huhtilainen, M. (2017). The Short Selling Regulation in the EU: Assessing the Authorization Granted for ESMA to Prohibit Short Selling. European Journal of Government and Economics, 6(1), 5-23. https://doi.org/10.17979/ejge.2017.6.1.4321
Resumo
[Abstract] This paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as supervisory work of regulatory bodies
Palabras chave
Short selling
Regulation
Intervention
Treatment effect
 
Versión do editor
https://doi.org/10.17979/ejge.2017.6.1.4321
Dereitos
Atribución 4.0 España
ISSN
2254-7088

Listar

Todo RUCComunidades e colecciónsPor data de publicaciónAutoresTítulosMateriasGrupo de InvestigaciónTitulaciónEsta colecciónPor data de publicaciónAutoresTítulosMateriasGrupo de InvestigaciónTitulación

A miña conta

AccederRexistro

Estatísticas

Ver Estatísticas de uso
Sherpa
OpenArchives
OAIster
Scholar Google
UNIVERSIDADE DA CORUÑA. Servizo de Biblioteca.    DSpace Software Copyright © 2002-2013 Duraspace - Suxestións