Description: Further DetailsTitle: Short Selling Activities and Convertible Bond ArbitrageCondition: NewFormat: PaperbackSubtitle: Empirical Evidence from the New York Stock ExchangeEAN: 9783834918864ISBN: 9783834918864Publisher: GablerRelease Date: 06/25/2010Description: The main cause of financial crisis may be found in the over-optimistic investing of b- ers that leads market prices away from fundamental values. However, in the aftermath of “excess” when stock markets tumble, it is usually the pessimists or short sellers who get publicly blamed. Despite the longstanding controversy on short selling activities, this market instrument remains a widely misunderstood concept by the public while it is an essential tool used by hedge funds for speculation and arbitrage. That is why it is important to investigate short selling for its different motivations and the resulting effect on stock returns, a subject whose empirical study is in its infancy. In his doctoral thesis, Sebastian examines convertible bond arbitrage, which is a typical hedge fund strategy that involves a long position in a convertible bond and a significant short position in the underlying stock. The short selling is employed as a hedge against movements in the stock price. With every change in the stock price, the hedge needs to be continuously readjusted, a practice which should lead companies with convertible bonds outstanding to have on average higher short selling activity than companies without convertible bonds. Furthermore, fundamental information should be processed differently in stocks with convertible bonds as stock price reactions based on the information are accompanied by the short selling of the convertible bond arbit- geurs.Language: GermanCountry/Region of Manufacture: DEItem Height: 210mmItem Length: 148mmAuthor: Sebastian P. WernerGenre: Business & FinanceTopic: Law & PoliticsBook Series: ebs-Forschung, Schriftenreihe der EUROPEAN BUSINESS SCHOOL Schloß ReichartshausenRelease Year: 2010 Missing Information?Please contact us if any details are missing and where possible we will add the information to our listing.
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Book Title: Short Selling Activities and Convertible Bond Arbitrage
Title: Short Selling Activities and Convertible Bond Arbitrage
Subtitle: Empirical Evidence from the New York Stock Exchange
EAN: 9783834918864
ISBN: 9783834918864
Release Date: 06/25/2010
Release Year: 2010
Country/Region of Manufacture: DE
Item Height: 210mm
Genre: Business & Finance
Topic: Law & Politics
Number of Pages: Xx, 256 Pages
Publication Name: Short Selling Activities and Convertible Bond Arbitrage : Empirical Evidence from the New York Stock Exchange
Language: English
Publisher: Betriebswirtschaftlicher Verlag DR. Th. Gabler Gmbh
Subject: Public Finance, Finance / General
Publication Year: 2010
Type: Textbook
Item Weight: 14.3 Oz
Subject Area: Business & Economics
Item Length: 8.3 in
Author: Sebastian P. Werner
Series: Ebs-Forschung, Schriftenreihe Der European Business School Schloß Reichartshausen Ser.
Item Width: 5.8 in
Format: Trade Paperback
