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Article
Publication date: 5 May 2015

Henry A Davis

131

Abstract

Details

Journal of Investment Compliance, vol. 16 no. 1
Type: Research Article
ISSN: 1528-5812

Open Access
Article
Publication date: 21 February 2024

Mostafa Saidur Rahim Khan

This study delves into the nuanced implications of short-sale constraints on stock prices within the context of stock market efficiency. While existing research has explored this…

Abstract

Purpose

This study delves into the nuanced implications of short-sale constraints on stock prices within the context of stock market efficiency. While existing research has explored this relationship, inconsistencies persist in their findings. The purpose of this study is to conduct a comprehensive review of literature to elucidate the reasons behind these disparities.

Design/methodology/approach

A systematic review of existing theoretical and empirical studies was conducted following the PRISMA method. The analysis centered on discerning the factors contributing to the divergence in projected stock prices due to these constraints. Key areas explored included assumptions related to expectations homogeneity, revisions, information uncertainty, trading motivations and fluctuations in supply and demand of risky assets.

Findings

The review uncovered multifaceted reasons for the disparities in findings regarding the influence of short-sale constraints on stock prices. Variations in assumptions related to market expectations, coupled with fluctuations in perceived information uncertainty and trading motivations, were identified as pivotal factors contributing to differing projections. Empirical evidence disparities stemmed from the use of proxies for short-sale constraints, varied sample periods, market structure nuances, regulatory changes and the presence of option trading.

Originality/value

This study emphasizes the significance of not oversimplifying the impact of short-sale constraints on stock prices. It highlights the need to understand these effects within the broader context of market structure and methodological considerations. By delineating the intricate interplay of factors affecting stock prices under short-sale constraints, this review provides a nuanced perspective, contributing to a more comprehensive understanding in the field.

Details

Journal of Capital Markets Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-4774

Keywords

Content available
Article
Publication date: 25 November 2013

Henry A Davis

168

Abstract

Details

Journal of Investment Compliance, vol. 14 no. 4
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 13 March 2009

Henry A. Davis

300

Abstract

Details

Journal of Investment Compliance, vol. 10 no. 1
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 3 June 2014

Henry Davis

96

Abstract

Details

Journal of Investment Compliance, vol. 15 no. 2
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 27 February 2014

Henry Davis

63

Abstract

Details

Journal of Investment Compliance, vol. 15 no. 1
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 6 July 2015

Henry A Davis

100

Abstract

Details

Journal of Investment Compliance, vol. 16 no. 2
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 27 February 2014

Henry Davis

0

Abstract

Details

Journal of Investment Compliance, vol. 15 no. 1
Type: Research Article
ISSN: 1528-5812

Content available
Article
Publication date: 1 December 2000

37

Abstract

Details

Work Study, vol. 49 no. 7
Type: Research Article
ISSN: 0043-8022

Content available
Article
Publication date: 7 September 2012

Henry A. Davis

101

Abstract

Details

Journal of Investment Compliance, vol. 13 no. 3
Type: Research Article
ISSN: 1528-5812

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