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- Title
THE EFFECT OF SHORT SELLING AND MARGIN REQUIREMENTS IN PERFECT CAPITAL MARKETS.
- Authors
Lintner, John
- Abstract
The article presents an exploration into the capital market effects of short sales escrow requirements and practices. An overview of the structural regulations limiting short selling is provided within a theoretically perfect market. Discussion is offered regarding the shifts which occur within the mathematical derivation of optimum portfolios even within such ideal conditions. The direct modeling of escrowing and margin requirements is presented, particularly exploring the consequences on portfolio equilibrium in the presence of paid interest on impounded funds.
- Subjects
SHORT selling (Securities); ESCROWS; MARGIN requirements; CAPITAL market; INVESTMENT analysis; MATHEMATICAL models of capital
- Publication
Journal of Financial & Quantitative Analysis, 1971, Vol 6, Issue 5, p1173
- ISSN
0022-1090
- Publication type
Article
- DOI
10.2307/2329855