Short-Sale Constraints, Differences of Opinion, and Overvaluation
Tóm tắt
Miller (1977) hypothesizes that dispersion of investor opinion in the presence of short-sale constraints leads to stock price overvaluation. However, previous empirical tests of Miller's hypothesis examine the valuation effects of only one of these two necessary conditions. We examine the valuation effects of the
Từ khóa
Tài liệu tham khảo
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