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While some short sales are based on information or opinions about a firm’s share price, this is not the case with many others. This statement coincides with the increasing use of arbitrage-related hedge fund strategies whereas it collides with public consensus that blames short sellers for decreasing stock prices and exacerbating the economic downturn. Sebastian Werner examines aggregate short sales and convertible bond arbitrage, which is a typical hedge fund strategy that involves a significant short position in the underlying stock of a long convertible bond position for hedging purposes. Focusing on events of extreme stock price changes and short selling activity, he provides insightful and new observations of the significant difference in the trading pattern, information content and resulting impact on stock returns of arbitrage- versus valuation-based short selling activities.

Arbitrage. --- Convertible bonds. --- New York Stock Exchange. --- Short selling. --- Speculation. --- Finance --- Business & Economics --- Finance - General --- Banking --- Investment & Speculation --- Bucket-shops --- Commercial corners --- Corners, Commercial --- Going short (Short selling) --- Selling short (Securities) --- Short sales (Securities) --- Short selling --- Shorting (Short selling) --- Bonds, Convertible --- Convertibles (Bonds) --- Liquid yield option notes --- Arbitrage --- Law and legislation --- NYSE --- Bourse de New York --- New York (N.Y.). --- Nyū Yōku Kabushiki Torihikijo --- New York (City). --- New York Stock and Exchange Board --- N.Y.S.E. --- N.Y. Stock Exchange --- Nʹi︠u︡-Iorkskai︠a︡ fondovai︠a︡ birzha --- Нью-Иоркская фондовая биржа --- Finance. --- Public finance. --- Economics. --- Public Economics. --- Finance, general. --- NYSE Amex --- Gambling --- Commodity exchanges --- Contracts, Aleatory --- Investments --- Stock exchanges --- Hedging (Finance) --- Bonds --- Convertible securities --- Securities --- Speculation --- Funding --- Funds --- Economics --- Currency question --- Cameralistics --- Public finance --- Public finances

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

While some short sales are based on information or opinions about a firm's share price, this is not the case with many others. This statement coincides with the increasing use of arbitrage-related hedge fund strategies whereas it collides with public consensus that blames short sellers for decreasing stock prices and exacerbating the economic downturn. Sebastian Werner examines aggregate short sales and convertible bond arbitrage, which is a typical hedge fund strategy that involves a significant short position in the underlying stock of a long convertible bond position for hedging purposes. Focusing on events of extreme stock price changes and short selling activity, he provides insightful and new observations of the significant difference in the trading pattern, information content and resulting impact on stock returns of arbitrage- versus valuation-based short selling activities.

Public finance --- Finance --- Public economics --- financieel management --- economie --- sociale interventies --- overheidsfinanciën