Price Efficiency and Short Selling (This article studies how stock price efficiency and the distribution of returns are affected by short-sale constraints. The study is based on a global data set that includes more than 12,600 stocks from 26 countries between 2005 and 2008.)
Short Selling Risk (Short sellers face unique risks, such as the risk that stock loans become expensive and the risk that stock loans are recalled. The study shows that short–sellingrisk affects prices among the cross-section of stocks. Stocks with more short–sellingrisk have lower returns, less price efficiency, and less shortselling.)
Activist Investors, Distressed Companies, and Value Uncertainty (Do funds create or destroy enterprise value? This essay contributes to the dialogue by analyzing data from chapter 11 cases in which funds are in a position to influence the debtor’s exit strategy. The data shed light on what such funds might achieve in chapter 11 cases and the potential implications for debtors and their other stakeholders. )
Shareholder Activism and Voluntary Disclosure (The paper examine the relation between shareholderactivismandvoluntary disclosure. An important consequence of voluntary disclosure is less adverse selection in the capital markets. One class of traders that finds less adverse selection unprofitable is activist investors who target mispriced firms whose valuations they can improve.)
Activist Short-Selling (Regulators and investors are concerned that activistshort-sellers who publicly talk down stocks manipulate the market by creating panic. Using a large sample of activistshort–selling, the research is concluded with the fact that activistshort-sellers tend to target firms with overvaluation features (that predict future underperformance) and uncertainty features indicating imprecision of investors’ information.)
Hedge Fund Activists’ Network and Information Flows (This paper studies connections and information flows between activist hedge funds and other institutional investors and shows them as prominent factors in the success of activist campaigns.)
Short selling around the expiration of IPO share lockups (The paper shows that short selling increases before the lockup expiration date and declines afterward, and the level of short selling is higher in stocks of venture capital (VC)- and private equity (PE)-backed IPOs than other IPOs.)
