TY  - JOUR
AU  - Lamont,Owen
TI  - Go Down Fighting: Short Sellers vs. Firms
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10659
PY  - 2004
Y2  - July 2004
UR  - http://www.nber.org/papers/w10659
L1  - http://www.nber.org/papers/w10659.pdf
N1  - Author contact info:
Owen Lamont
Department of Economics
Harvard University
Cambridge MA 02138
E-Mail: owen.lamont@yale.edu
AB  - I study battles between short sellers and firms. Firms use a variety of methods to impede short selling, including legal threats, investigations, lawsuits, and various technical actions intended to create a short squeeze. These actions create short sale constraints. Consistent with the hypothesis that short sale constraints allow stocks to be overpriced, firms taking anti-shorting actions have in the subsequent year very low abnormal returns of about -2 percent per month.
ER  -