Are short sellers positive feedback traders?

The authors would like to thank the participants of the International Finance and Banking Society Conference (Rome), the seminar of the Financial Services Research Centre at Wilfrid Laurier University (Waterloo), the 15th Conference of the Swiss Society for financial market research (Zurich), the 19th Annual Conference of the Multinational Finance Society (Krakow), the Workshop on Reforming Financ [...] Specifically, their model is able to explain of GDP exceeded 200 percent in the case of the United States and the United Kingdom, and were well over 100 percent in the other countries the stylized fact that increased volatility is known to considered in this study, with the exception of Korea, where the value is be accompanied by serial correlations, which are more around 90 percent of GDP (Gonnar [...] This enables (FSA) in the United Kingdom established the strongest the contrast of changes in the extent of feedback trading version of the short-selling bans considered in this study, in restricted stocks with those for unrestricted ones which came into force the next day. [...] In the next section, the timeline of the short-selling bans and the construction On September 30, 2008, the South Korean Financial of control groups is sketched. [...] Note that replacement is advisable to For the United States, the United Kingdom, Germany, prevent the composition of the control groups from being France and Australia, most banned stocks can be included influenced by the order in which we match firms to our test in the analysis.4 For South Korea, the analysis is limited groups.