18 Pages Posted: 1 Aug 2009 Last revised: 23 Jun 2010
Date Written: June 22, 2010
This paper summarizes the short selling restrictions adopted - mainly on an emergency basis - in the time period of July 2008 up to mid-June 2010 in 56 countries around the world. It is a supplement to a recent article of the authors (Gruenewald et al., 2010) and gives a detailed overview of the regulators’ short-term measures ranging from complete short selling bans to extra disclosure obligations for short sellers. The overview includes the measures’ time frame, type and exceptions as well as information on the targeted firms. Although not all countries have implemented short selling restrictions, their impact is massive: Approximately 80% of the December 2008 stock market capitalizations of the countries in our sample were directly or indirectly affected by some emergency short selling restriction.
Keywords: short selling, regulation, market abuse, market efficiency, financial crisis
JEL Classification: G01, G28
Suggested Citation: Suggested Citation
Gruenewald, Seraina N. and Wagner, Alexander F. and Weber, Rolf H., Emergency Short Selling Restrictions in the Course of the Financial Crisis (June 22, 2010). Available at SSRN: https://ssrn.com/abstract=1441236 or http://dx.doi.org/10.2139/ssrn.1441236
By Eli Ofek