Description

This comprehensive examination of short selling, which is a bet on stocks declining in value, explores the ways that this strategy drives financial markets. Its focus on short selling by region, its consideration of the history and regulations of short selling, and its mixture of industry and academic perspectives clarify the uses of short selling and dispel notions of its destructive implications. With contributions from around the world, this volume sheds new light on the ways short selling uncovers market forces and can yield profitable trades.

Key Features

  • Combines academic and professional research on short selling in all major financial markets
  • Emphasizes details about strategies, implementations, regulation, and tax advantages
  • Chapters provide summaries for readers who want up-to-date maps of subject landscapes

Readership

  • Primary: Academics worldwide working in subjects connected with trading, risk management, financial modeling, financial regulation, and financial economics in general.
  • Secondary: Professionals working in trading, risk management, financial modeling, financial regulation, and financial economics.
  • Table of Contents

    I. REGULATION IN THE US AND CANADA
    1. Short Sales and Financial Innovation: How to take the Good while Avoiding Widespread Default
    nbsp;nbsp; Graciela Chichilnisky
    2. Goldman Sachs’s Short-Sale Swap Shop
    nbsp;nbsp; Edward Pekarek and Christopher Lufrano
    3. Off-Shore Short Sales after Morrison: Will the SEC be Emboldened or Constrained?
    nbsp;nbsp; Ed Pekarek and Soufiane Cherkaoui
    4. Regulating Short Sales in the U.S. in the 21st Century
    nbsp;nbsp; Houman B. Shadab
    5. The Evolution of Short Selling Regulations and Trading Practices in the US
    nbsp;nbsp; Chinmay Jain, Pankaj K. Jain and Thomas H. McInish
    6.nbsp;Financing Techniques for Short Sellers
    nbsp;nbsp; Stuart McCrary

    II. EUROPEAN MARKETS
    8. Are Restrictions on Short Selling Good? A Look on European Markets
    nbsp;nbsp; Mohamed El Hedi Arouri, Fredj Jawadi, Duc Khuong Nguyen
    9.
    Short Selling and Clearing Settlement in Europe: Relations and Implications
    nbsp;nbsp; Daniela Russo and Simonetta Rosati
    10. The 2008 Emergency Regulation of Short Selling in the US, UK and Australia
    nbsp;nbsp; Kym Sheehan
    11. Reflections on Short Selling Regulations in Western and Eastern Europe
    nbsp;nbsp; Jeannine Daniel and François-Serge Lhabitant
    12.Regulating Short Selling: The European Framework(s) and the Regulatory Arbitrages
    nbsp;nbsp; Giampaolo Gabbi and Paola Giovinazzo
    13.
    Do Option Prices Reveal Short-Sale Restrictions Impact on Banks’ Stock Prices? The German Case
    nbsp;nbsp; Stefano Corradin, Marco Lo Duca, and Cristina Sommacampagna
    14. Short Selling in France During the Crisis: The Bans and What has Changed Since the Euro
    nbsp;nbsp; CorrectionEmmanuel Fragnière and Iliya Markov

    III. CHINA, JAPAN AND AUSTRALIA
    15.The Chinese Real Estate Bubble: Is it an Opportunity for Sho

    Details

    No. of pages:
    624
    Language:
    English
    Copyright:
    © 2012
    Published:
    Imprint:
    Academic Press
    Print ISBN:
    9780123877246
    Electronic ISBN:
    9780123877253

    Reviews

    "The global financial crisis triggered a debate about pros and cons of trading practices such as short selling and required policy responses. This is precisely the theme of this work. It has been well chosen and exhaustively analyzed, making this book a mandatory reading for anybody with an interest or responsibilities in the microstructure of financial markets."

    --Marco Rossi, Senior Economist, International Monetary Fund

     

    "This book is a very timely and extremely useful guide to the subtle and often difficult issues involved in short selling - a subject that is more relevant than ever since the financial crisis. It is written by many experts and covers by its manyfold chapters all aspects of short selling from different international points of view. It will surely lead to many new insights."

    --Carsten S. Wehn, Head of Risk Modelling, DekaBank, Germany

     

    "Short selling so far has been an investment technique that was wildly misunderstood by politicians, academics and practitioners alike. This book with 39 chapters written by leading academics and practitioners represents the ultimate resource for everyone who wants to really understand the concept. The Handbook of Short Selling covers regulation and best practices in various countries, the effect of short-selling bans throughout the financial crisis, as well as the diversification benefits of the addition of short sellers to a traditional investment portfolio."

    --Dieter Kaiser, Director of Investment Management, Feri Institutional Advisors GmbH

    "Many people are discussing the role and the effects of short selling in the (current) financial crisis, but these experts contributing to the 'Handbook of Short Selling' really know what they are talking about. The Handbook is a must read for every participant in the capital markets."

    --Christian Hoppe, Commerzbank AG, Frankfurt am Main

     

     "Short-sell