Securities Lending, Shorting, and Pricing
Authors:
- Darrell Darrell DuffieDDDarrell Darrell Duffie
- Nicolae Bogdan GarleanuNGNicolae Bogdan Garleanu
- Lasse Heje PedersenLPLasse Heje Pedersen
Preprint
- 1 January 2002
- preprint
- Published by Elsevier in SSRN Electronic Journal
Abstract
We present a model of asset valuation in which short-selling is achieved by searching for security lenders and by bargaining over the terms of the lending fee.Keywords
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