Short-sellers, fundamental analysis, and stock returns

By Patricia M. Dechow, Amy P. Hutton, L. Meulbroek, Richard G. Sloan. 2001

765 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/84942d8c0a34eebe930b75005b5820a0dcbee63e

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Citations in the corpus

Short Arbitrage, Return Asymmetry, and the Accrual Anomaly (2011, positive): “There is evidence that short sellers take advantage of overpricing as measured by high fundamental-to-price ratios, such as cash-flow-to-price, earnings-to-price and book-to-market (Dechow et al., 2001). Dechow et al. (2001) also report that firms with large short positions tend to have high institu”
Short interest and stock price crash risk (2015, result): “6 See also Dechow et al. (2001), Christophe et al. (2004, 2010), Engelberg et al. (2012).”
Short Selling and the Price Discovery Process (2013, neutral): “We complement earlier work by Dechow et al. (2001), Desai et al. (2002), Hirshleifer, Teoh, and Yu (2011), and others that examines the relation between monthly short interest and variables related to firm fundamentals.”
Asset Prices Under Short-Sale Constraints (2006, background): “From equations (16) and (23), we have the following proposition:”
Do Short Sellers Target Firms with Poor Earnings Quality? Evidence from Earnings Restatements (2006, neutral): “…firm, we select a control firm matched on industry, size and book-tomarket ratio (BM) ratio 18 months prior to restatement month.4 The matching criteria are motivated by the evidence in Dechow et al. (2001) that the ratio of fundamentals to price is an important determinant of short interest.”
Short Sellers and Financial Misconduct (2010, background): “These controls reflect findings by Dechow et al. (2001), Asquith, Pathak, and Ritter (2005), and Duarte, Lou, and Sadka (2008) that short interest is related to market capitalization, the book-to-market ratio, and momentum.”
Regulatory Uncertainty and Market Liquidity: The 2008 Short Sale Ban's Impact on Equity Option Markets (2011, methodology): “Consistent with Miller’s hypothesis, Figlewski (1981), Figlewski and Webb (1993), and Dechow et al. (2001) find stocks with high short interest have low subsequent returns and Jones and Lamont (2002) find evidence that stocks that are expensive to short have high valuations and low subsequent…”