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- Title
Foreigners' Short Selling in the Korean Stock Market around the Financial Crisis.
- Authors
Hahn, Sang B.; Sehoon Kwon; Yeongseop Rhee
- Abstract
This paper investigates short selling behavior, particularly by foreign investors, during event days of non-normal times on an intraday basis in the Korean stock market around the global financial crisis. Although, in the several subsamples, we cannot exclude the predatory short-selling possibility, we did not find any conclusive evidence of abusive short selling behaviors in the overall intraday trading activities. While foreign investors demonstrate higher levels of participation in short-sale trading, their impact on price declines is not as pronounced compared to the effects of pure selling. Following the lift of the short-sale ban, foreign investors appear to engage in long selling trading more frequently, and their influence on price changes primarily stems from long selling rather than short selling compared to the past.
- Subjects
FINANCIAL crises; SHORT selling (Securities); FINANCIAL markets; INVESTORS; GLOBAL Financial Crisis, 2008-2009; STOCKS (Finance); SELLING
- Publication
East Asian Economic Review (EAER), 2023, Vol 27, Issue 2, p145
- ISSN
2508-1640
- Publication type
Article
- DOI
10.11644/KIEP.EAER.2023.27.2.421