Short Interest, Institutional Ownership, and Stock Returns

By P. Asquith, Parag A. Pathak, Jay R. Ritter. 2005

873 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/4835403510fb008a1cf86a9ad693301582bbc967

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Citations in the corpus

In Short Supply: Short Sellers and Stock Returns (2015, neutral): “Empirical support can be found in Geczy et al. 2002, Asquith et al. 2005, Jones and Lamont 2005; and Boehmer et al. 2009, among others. ownership firms).”
Informed trading before analyst downgrades: Evidence from short sellers (2010, positive): “We follow the approach of Asquith, Pathak, and Ritter (2005) and define a stock’s daily short-selling as the number of shares shorted in nonexempt sales divided by thousands of total shares outstanding on that day.”
The Market for Borrowing Corporate Bonds (2010, background): “Asquith, Pathak, and Ritter (2005) report that in 2002 the equally-weighted average short interest for stocks is approximately 2.4% 1 As mentioned above, the NYSE reports bi-monthly beginning September 2007.”
The Information Content of Idiosyncratic Volatility (2009, methodology): “Institutional ownership has also been used in existing studies as a proxy of the short-sale supply, since institutional investors may lend their shares to short-sellers (see, e.g., D’Avolio (2002), Nagel (2005), and Asquith, Pathak, and Ritter (2005)).”
Short Arbitrage, Return Asymmetry, and the Accrual Anomaly (2011, positive): “Several authors document that institutional owners provide the main loan supply of stock, and consequently, the level of institutional ownership is a key proxy for ease of short selling (Asquith, Pathak, and Ritter 2005, Nagel 2005).”
Financing Under Extreme Risk: Contract Terms and Returns to Private Investments in Public Equity (2010, positive): “The “Short Constrained” variable is similar to that described by Asquith, Pathak, and Ritter (2005) and is set equal to 1 if a firm’s short interest divided by shares outstanding is 27 Consistent with financial constraint, in unreported results we find a positive relation between operating income…”