haku: @author Duffie, D. / yhteensä: 13
viite: 4 / 13
| Tekijä: | Duffie, D. Garleanu, N. Heje Pedersen, L. |
| Otsikko: | Securities lending, shorting, and pricing |
| Lehti: | Journal of Financial Economics
2002 : DEC, VOL. 66:2-3, p. 307-339 |
| Asiasana: | Stock markets Securities Pricing |
| Vapaa asiasana: | Differences of opinion |
| Kieli: | eng |
| Tiivistelmä: | The authors present a model of asset valuation in which short-selling requires searching for security lenders and bargaining over the lending fee. If lendable securities are difficult to locate, then the price of the security above even the most optimistic buyer's valuation of the security's future dividends. A higher price can thus be obtained with some shorting than if shorting is disallowed. |
SCIMA