We find that put options trading volume and bid-ask spreads both increase with equity
lending fees. However, we also find that put options trading volume decreases with lending …

This paper is the first to relate the investment practices of US equity mutual funds to their
management of flow risk, defined as the adverse effect of investor in-and outflows on fund …

This study examines how options trading plays a unique role in curbing firms' earnings
management. We find that options trading volume deters managers' earnings manipulations …

We suggest that the intertemporal risk-return tradeoff is not necessarily positive but rather
state dependent. We further explore the state dependent risk-return relation by examining …

In this paper, we address the question that with differences in opinion in reality, how quickly
stocks incorporate news shocks when they are subject to different levels of short-sale …

In May of 1997, in the midst of the Internet bubble, the average month end P/E ratio for the
software industry was 44. However, the 5‐year historical average was 31. In this study, we …

This study investigates the relationship between stock short‐selling restrictions and bearish
equity warrants on the Taiwan Stock Exchange to clarify the substitutive role of put warrants …

This study investigates the ability for option markets to mitigate short-sale constraints using
the natural experiment of the short-sale ban in 2008. Following the SEC's amendment prior …

In this paper, we explore how trading restriction in terms of significantly increased cost for
futures contracts impacts trading activities of futures and options written on the same …

This paper investigates the effect of the current short-sale regulation, SEC Rule 201, on
cross-market trading and its impact on market quality. The evidence suggests that after Rule …