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Full-Text Articles in Securities Law
The Uptick Rule Of Short Sale Regulation: Can It Alleviate Downward Price Pressure From Negative Earnings Shocks?, Lin (Lynn) Bai
The Uptick Rule Of Short Sale Regulation: Can It Alleviate Downward Price Pressure From Negative Earnings Shocks?, Lin (Lynn) Bai
Faculty Articles and Other Publications
This paper empirically examines the effect of the uptick rule (including the bid test applicable to NASDAQ stocks) of short sale regulations on stock prices and short selling activities immediately after negative earnings surprises that occurred during the period of May to November 2005. It compares price paths and short selling activities of stocks restricted by the uptick rule with stocks that were exempted from the rule as a result of the SEC's Pilot Program. The study has not found any evidence that prices of stocks subject to the rule declined at a slower speed than prices of exempted stocks …
Entering The U.S. Securities Markets: Regulation Of Non-U.S. Issuers, Barbara Black
Entering The U.S. Securities Markets: Regulation Of Non-U.S. Issuers, Barbara Black
Faculty Articles and Other Publications
The U.S. securities markets offer the greatest opportunities for businesses that wish to raise additional capital or expand their shareholder base. Large non-U.S. corporations regularly tap the U.S. market for infusions of capital, and the securities of many non-U.S. corporations are listed on the New York Stock Exchange or traded on NASDAQ. Smaller non-U.S. entities, however, may be deterred from entering the U.S. markets because of concerns about the burdens of U.S. securities regulation. These concerns are legitimate: a decision to enter the highly-regulated U.S. securities markets should not be made lightly. For non-U.S. private issuers, perhaps the greatest difficulty …