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Should a Short Sale Against the Box Be a Realization Event?

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  • Weisbach, David A.

Abstract

Criticizes the need to treat short sales against the box as realization events. Argues that the net welfare gain of such treatment is uncertain (under traditional Haig-Simons notions of equity) and that efficiency gains are dependent on views of stock trading.

Suggested Citation

  • Weisbach, David A., 1997. "Should a Short Sale Against the Box Be a Realization Event?," National Tax Journal, National Tax Association;National Tax Journal, vol. 50(3), pages 495-506, September.
    • Handle: RePEc:ntj:journl:v:50:y:1997:i:3:p:495-506
    DOI: 10.1086/NTJ41789277
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    References listed on IDEAS

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    1. J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, 1989. "The Size and Incidence of the Losses from Noise Trading," Journal of Finance, American Finance Association, vol. 44(3), pages 681-696, July.
    2. De Long, J Bradford & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, 1990. "Noise Trader Risk in Financial Markets," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 703-738, August.
    3. J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, 1989. "The Size and Incidence of the Losses from Noise Trading," Journal of Finance, American Finance Association, vol. 44(3), pages 681-696, July.
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    Cited by:

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