Browsing by Author "Lin, Tse-Chun"

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Do short sellers exploit risky business models of banks? Evidence from two banking crises
(2020-02-01)
Lin, Chih-Yung
;
Bui, Dien Giau
;
Lin, Tse-Chun
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資訊管理與財務金融系註：原資管所+財金所
;
Department of Information Management and Finance
We find that changes in short interest predict banks' stock returns during two recent banking crises. Furthermore, before the 2007-2008 crisis, short interest increased more for banks with worse performance during the Long-Term Capital Management crisis of 1998. We also find that changes in short interest predicted banks' loan quality and default risk during the 2007-2008 crisis. The results are stronger for banks with higher levels of risk-taking. Overall, our findings indicate that short sellers were informed about the persistent risky business models of banks and shorted those banks before the 2007-2008 crisis. (C) 2019 Elsevier B.V. All rights reserved.
Wisdom of crowds before the 2007?2009 global financial crisis *
(2020-06-01)
Chau, Michael
;
Lin, Chih-Yung
;
Lin, Tse-Chun
;
資訊管理與財務金融系註：原資管所+財金所
;
Department of Information Management and Finance