Handbook of Short Selling, 1st Edition

Key Features

• Combines academic and professional research on short selling in all major financial markets
• Emphasizes details about strategies, implementations, regulation, and tax advantages
• Chapters provide summaries for readers who want up-to-date maps of subject landscapes

Description

This comprehensive examination of short selling, which is a bet on stocks declining in value, explores the ways that this strategy drives financial markets. Its focus on short selling by region, its consideration of the history and regulations of short selling, and its mixture of industry and academic perspectives clarify the uses of short selling and dispel notions of its destructive implications. With contributions from around the world, this volume sheds new light on the ways short selling uncovers market forces and can yield profitable trades.

Readership

Handbook of Short Selling, 1st Edition

I. REGULATION IN THE US AND CANADA
1. Short Sales and Financial Innovation: How to take the Good while Avoiding Widespread Default
   Graciela Chichilnisky
2. Goldman Sachs’s Short-Sale Swap Shop
   Edward Pekarek and Christopher Lufrano
3. Off-Shore Short Sales after Morrison: Will the SEC be Emboldened or Constrained?
   Ed Pekarek and Soufiane Cherkaoui
4. Regulating Short Sales in the U.S. in the 21^st Century
   Houman B. Shadab
5. The Evolution of Short Selling Regulations and Trading Practices in the US
   Chinmay Jain, Pankaj K. Jain and Thomas H. McInish
6. Financing Techniques for Short Sellers
   Stuart McCrary

II. EUROPEAN MARKETS
8. Are Restrictions on Short Selling Good? A Look on European Markets
   Mohamed El Hedi Arouri, Fredj Jawadi, Duc Khuong Nguyen
9. Short Selling and Clearing Settlement in Europe: Relations and Implications
   Daniela Russo and Simonetta Rosati
10. The 2008 Emergency Regulation of Short Selling in the US, UK and Australia
   Kym Sheehan
11. Reflections on Short Selling Regulations in Western and Eastern Europe
   Jeannine Daniel and François-Serge Lhabitant
12.Regulating Short Selling: The European Framework(s) and the Regulatory Arbitrages
   Giampaolo Gabbi and Paola Giovinazzo
13. Do Option Prices Reveal Short-Sale Restrictions Impact on Banks’ Stock Prices? The German Case
   Stefano Corradin, Marco Lo Duca, and Cristina Sommacampagna
14. Short Selling in France During the Crisis: The Bans and What has Changed Since the Euro
   CorrectionEmmanuel Fragnière and Iliya Markov

III. CHINA, JAPAN AND AUSTRALIA
15.The Chinese Real Estate Bubble: Is it an Opportunity for Short-Selling?
   Peter Treadway and Michael C S Wong
16. Introduction of Margin Trading and Short Selling in China’s Securities Market: The Case of the Disordered Warrant Prices
   Wei Fan, Qingbin Meng, Liu Yang, Lingqing Xing and Sihai Fang
17. The Impact of Short Selling on China Stock Prices
   Michael C. S. Wong and Kaiguo Zhou
18. Short Selling the Real Estate Bubble in China
   Kaiguo Zhou
19. Impact of Macro Indicators on Short Selling: Evidence from Tokyo Stock Exchange
   M. Nihat Solakoglu and Mehmet Orhan 
20. The New Regulatory Development for Short Selling in Asia
   Jeannine Daniel and François-Serge Lhabitant
21. Short Selling in Australia: The Current State of Play in Practice and in Regulation
   John Simpson, Peter Mayall and Mathew Ratty
22. Sourcing Securities for Short Sales: The Proper Legal Characterisation of Securities Loans in Australia
   Paul U. Ali 

IV. EMERGING MARKETS
23. Short-Selling in Emerging Markets: A Comparison of Market Performances during the Global Financial Crisis
   Mario A. Maggi
24. A Review of Short Selling in Emerging Markets: Latin America and Eastern Europe
   Miguel Díaz-Martínez and Emmanuel Fragniere
25. Short Sales: Ambrosia or Kryptonite for Emerging Markets?
   Ed Pekarek and Maryam M. Meseha
26. Short Selling Consistency in South Africa
   Dave E. Allen, Robert J. Powell and Abhay Kumar Singh
27. Short Selling in Russia: Evidence from Medium and Long-Term Portfolio Strategies
   Dean Fantazzini, Alexander Kudrov, Andrew Zlotnik and Elena Dukhovnaya
28. Performance Persistence of Short Sellers
   Meredith A. Jones
29. An Empirical Analysis of Short Biased Hedge Funds’ Risk-Adjusted Performance: A Panel Approach
   Greg N. Gregoriou and Razvan Pascalau

V. PORTFOLIO MANAGEMENT AND PERFORMANCE
30. Short Selling by Portfolio Managers: Performance and Risk Effects across Investment Styles
   Russell B. Gregory-Allen and David M. Smith
31. Short Selling in an Asset Allocation Framework--the Search for Alpha
   Nils S. Tuchschmid, Erik Wallerstein and Sassan Zaker
32. Machine Learning and Short Positions in Stock Trading Strategies
   David E. Allen, Robert Powell and Abhay Kumar Singh
33. Short-Selling Stock Indices on Signals from Implied Volatility Index Changes: Evidence from Quantile Regression Based Techniques
   David E. Allen, A Kramadibrata, R. Powell and A K. Singh

VI. MODELING, EARNINGS AND ANNOUNCEMENTS
34. Short-Selling and the Equity Premium Puzzle
   Jorgen-Vitting Andersen
35. Affine Term Structure Models and Short-Selling: The Liberal Case against Prohibitions
  Vicente Jakas
36. Short Sale Constraints in the Equity Market and the Term Structure of Interest Rates
   Abraham Lioui
37. Short-Selling Assessment Where Consumer Prices Involve both Currency Trades and Weather Shocks
   Jack Penm and R. Deane Terrell
38. Aggregate Short Selling during Earnings Seasons
   Paul Brockman, Andrew Lynch and Andrei Nikiforov
39. The Information Content of Short-Selling before Macroeconomic Announcements
   Paul Brockman and (Grace) Qing Hao