Limitations The same as shorting cash bonds (see above), with small additional counterparty costs.

We present a model of asset valuation in which short-selling requires searching for security lenders and bargaining over the lending fee. If lendable securities are difficult to locate, then …

Table 3 shows the returns for each of the shorting quintile portfolios. The basic result is that short sellers are informed in the corporate bond market, as short interest predicts subsequent bond …

While this disproportionate share of short activity has raised concerns about excessive shorting/naked short-selling of ETFs, we identify an alternative source of ETF shorting related …

Helps us understand the historical context underlying the uptick rule. Shorting and share lending were highly developed, with little regulatory oversight or restrictions.

We present a model of asset valuation in which short-selling is achieved by searching for security lenders and by bargaining over the terms of the lending fee. If lendable securities are di cult to …

We have developed a shorting signal based on market theories of price discovery and build it out on a set of variables that capture the array of short selling activities.