2nd Annual RMA – UNC Acadamic Forum on Securities Lending
April 30, 2010
Credit Suisse, New York, NY
This page is dedicated to academic works related to securities lending and securities finance. From time to time, we will post various research papers for reviewing. Papers will include the author(s) contact details to help facilitate dialogues—giving authors an opportunity to obtain valuable insight and interaction from industry practitioners prior to publication .The papers will be screened by Adam V. Reed, associate professor of finance and a Julian Price Scholar at the Kenan-Flagler Business School, The University of North Carolina at Chapel Hill. This will ensure a balanced view of both favorable and critical views of the industry.
We hope that practitioners will take the time to review some of these works and provide sound and constructive feedback that will assist the author(s) in completing the paper. In addition, this site may feature papers that are completed and published that may not have had prior review. We will keep you informed of these academic papers on this Web page.
If you find a paper that you think should be listed, or if you have a question, please contact Curtis Knight, cknight@rmahq.org.
Thank you.
Short Selling and the Informational Efficiency of Prices (Draft working paper, PDF)
Authors: Ekkehart Boehmer Ph.D. Associate Professor, Mays Business School,Texas A&M University and J. Julie Wu, Ph.D., Dept. of Banking and Finance, Terry College of Business, University of Georgia. E-mail Ekkehart at eboehmer@mays.tamu.edu. Updates and additional papers by this author can be found at www.ekki.org/working_papers.htm.
A Study of Market-Wide Short-Selling Restrictions (Draft working paper, PDF)
Authors: Anchada Charoenrook, Ph.D., Assistant Professor, Olin School of Business Washington University, St. Louis and Hazem Daouk, Ph.D., Associate Professor, Dept. of Applied Economics & Management, Cornell University. E-mail Anchada at charoenrook@wustl.edu
When Constraints Bind (Draft working paper, PDF)
Authors: Karl B. Diether, Ph.D., Assistant Professor, Fisher College of Business,The Ohio State University and Ingrid M. Werner, Ph.D., Professor of Finance, Fisher College of Business,The Ohio State University. E-mail Karl at karl@diether.org
Shackling Short Sellers: The 2008 Shorting Ban
Authors: Ekkehart Boehmer, Lundquist College of Business, University of Oregon
Mays Business School, Texas A&M University; Charles M. Jones, Columbia Business School; Xiaoyan Zhang, Johnson Graduate School of Management, Cornell University. e-mail the authors at eboehmer@mays.tamu.edu, cj88@columbia.edu, xz69@cornell.edu respectively.
Prohibitions versus Constraints: The 2008 Short Sales Regulations (Draft working paper, PDF)
Authors: Adam C. Kolasinksi, University of Washington; Adam V. Reed, University of North Carolina; and Jacob R. Thornock, University of North Carolina. E-mail the authors at adamkola@u.washington.edu, adam_reed@unc.edu and jake_thornock@unc.edu, respectively.
The Effects of Stock Lending on Security Prices: An Experiment (PDF)
Authors: Steven N. Kaplan, University of Chicago Booth School of Business and NBER; Tobias J. Moskowitz, University of Chicago Booth School of Business and NBE; and Berk Sensoy, Ohio State University and Duke University. E-mail Steven at skaplan@uchicago.edu
Hastily Implementing Rules that are not Well Thought Out:The Impact of the 2008 Short Sale Ban on Equity Option Markets (PDF)
Authors: Robert Battalio, University of Notre Dame and Paul Schultz, University of Notre Dame. E-mail the authors at rbattali@nd.edu and pschultz@nd.edu respectively.
The Skinny on the 2008 Naked Short Sale Restrictions (PDF)
Authors: Thomas J. Boulton, Farmer School of Business, Miami University and Marcus V. Braga-Alves, College of Business Administration, Marquette University. E-mail Thomas at boultontj@muohio.edu
Short Sale Constraints, Dispersion of Opinion,and Market Quality: Evidence from the Short Sale Ban on U.S. Financial Stocks (PDF)
Authors: Don M. Autore, Florida State University, Randall S. Billingsley, Virginia Tech, and Tunde Kovacs, Virginia Tech & Northeastern University.
Price Inflation and Wealth Transfer during the 2008 SEC Short-Sale Ban (PDF)
Authors: Lawrence E. Harris, Marshall School of Business, University of Southern California; Ethan Namvar, Paul Merage School of Business, University of California, Irvine; and Blake Phillips, University of Waterloo, School of Accounting and Finance. E-mail Ethan at enamvar@uci.edu