Eficacia de las prohibiciones de las ventas en corto en España

Artikel

This paper studies the influence of short sales bans on the Spanish stock market, and its objective is to know if this corrective measure has had positive effects on the market. To determine this influence, we have studied the profitability, risk and liquidity of Ibex 35 in the period between November 11, 2008 and May 31, 2013, distinguishing in this period between the two restrictions established in Spain during the crisis. To measure the impact of these bans, econometric linear regression models have been designed between securities lending volume and profitability of Ibex 35, concluding that the bans on short sales implemented have not corrected the falls in quotations or the volatility. However, there is a significant decrease in the volume of trading during the ban periods.

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• Alternative title: Effectiveness of short sales bans in Spain
• Language: Spanisch

References and Relationships

• Bibliographic citation: Journal: Revista de Métodos Cuantitativos para la Economía y la Empresa ; ISSN: 1886-516X ; Volume: 26 ; Year: 2018 ; Pages: 250-268

Classification and Topics

• Classification: Wirtschaft ; Information and Market Efficiency; Event Studies; Insider Trading ; Financial Institutions and Services: Government Policy and Regulation
• Subject: Stock markets ; short selling ; Ibex 35 ; profitability ; volatility ; trading volume

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Martínez, Raúl Gómez ; Vianes, Jessica Paule ; Martínez Navalón, Juan Gabriel
• Event: Veröffentlichung
• (who): Universidad Pablo de Olavide
• (where): Sevilla
• (when): 2018

Further information

• DOI: doi:10.46661/revmetodoscuanteconempresa.2776
• Handle: http://hdl.handle.net/10419/286148