Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen:
https://hdl.handle.net/10419/44965
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Fellner, Gerlinde | en |
dc.contributor.author | Theissen, Erik | en |
dc.date.accessioned | 2011-03-16 | - |
dc.date.accessioned | 2011-04-15T09:46:23Z | - |
dc.date.available | 2011-04-15T09:46:23Z | - |
dc.date.issued | 2011 | - |
dc.identifier.uri | http://hdl.handle.net/10419/44965 | - |
dc.description.abstract | The overvaluation hypothesis (Miller 1977) predicts that a) stocks are overvalued in the presence of short selling restrictions and that b) the overvaluation increases in the degree of divergence of opinion. We design an experiment that allows us to test these predictions in the laboratory. The results indicate that prices are higher with short selling constraints, but the overvaluation does not increase in the degree of divergence of opinion. We further find that trading volume is lower and bid-ask spreads are higher when short sale restrictions are imposed. | en |
dc.language.iso | eng | en |
dc.publisher | |aUniversity of Cologne, Centre for Financial Research (CFR) |cCologne | en |
dc.relation.ispartofseries | |aCFR working paper |x11-03 | en |
dc.subject.jel | C92 | en |
dc.subject.jel | G14 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | overvaluation hypothesis | en |
dc.subject.keyword | short selling constraints | en |
dc.subject.keyword | divergence of opinion | en |
dc.title | Short sale constraints, divergence of opinion and asset value: Evidence from the laboratory | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 654201080 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:cfrwps:1103 | en |
Datei(en):
Publikationen in EconStor sind urheberrechtlich geschützt.