The impact of margin trading and short selling on the investment efficiency. Evidence from China
DOI:
https://doi.org/10.56028/aemr.5.1.27.2023Keywords:
margin trading;short selling;investment efficiency.Abstract
We use a quasi-natural experiment of the introduction of margin trading and short selling in China. We investigate the impact of margin trading and short selling on the investment efficiency. The results show that margin trading and short selling can improve the investment efficiency of listed firms.The further group regressions show that margin trading and short selling can effectively alleviate over-investment but have no effect on the under-investment problem.
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Published
2023-04-11