Short Sales: Bearish or Bullish?


Economics, Finance, & Quantitative Analysis

Document Type


Publication Date

Winter 2004


Focuses on the relationship between short interest, a ratio of the number of shares short to trading volume, and excess return for Canadian stocks. Information on the requirement set by the Toronto Stock Exchange (TSX) on short selling; Result of several studies on the relationship between short interest and excess returns; Computation for excess return and short interest using the TSX data.