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Get Shorty? - Market Impact of the 2008-09 U.K. Short Selling Ban

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Title: Get Shorty? - Market Impact of the 2008-09 U.K. Short Selling Ban
Authors: Hansson, Fredrik
Rüdow Fors, Erik
Issue Date: 11-Jun-2009
Publication type: report
Organization: Centre for Finance and Department of Economics at the School of Business Economics and Law at the University of Gothenburg;
Series/Report no.: Working Papers in Economics
Keywords: short selling
market quality
Abstract: In September 2008, during one of the most intense periods of the financial crisis, the Financial Services Authority (FSA) decided to ban short-selling in financial stocks during four months in the U.K. market. The aim of the ban was to guard against instability and calm the market. This paper examines the effect of the ban on the banned stocks in terms of returns and market quality measured by abnormal returns, volatility, bid-ask spreads and volumes using intraday data. Event study methods and ... more
ISSN: 1403-2465
Appears in Collections:Working papers



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