{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/85524"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/85524","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Two Essays in Financial Economics","abstract":"In the second chapter, we construct a model to test the impact of short sell restrictions on the price discovery process of Diamond exchange traded funds. Short sell restrictions prevent trading in individual stocks during down markets. Diamonds are traded continuously and hold a publicly known portfolio of DJIA stocks. We test the distributional implications of short sell restrictions by using trade level data to construct minute-by-minute trade level approximations of the Diamond portfolio and compare them to Diamonds during periods when the short sell restrictions bind. We find no evidence that short sell restrictions introduce persistent premiums or discounts.","abstract_html":"In the second chapter, we construct a model to test the impact of short sell restrictions on the price discovery process of Diamond exchange traded funds. Short sell restrictions prevent trading in individual stocks during down markets. Diamonds are traded continuously and hold a publicly known portfolio of DJIA stocks. We test the distributional implications of short sell restrictions by using trade level data to construct minute-by-minute trade level approximations of the Diamond portfolio and compare them to Diamonds during periods when the short sell restrictions bind. We find no evidence that short sell restrictions introduce persistent premiums or discounts.","abstract_has_math":false,"creators":["Westbrook, Harvey Birtill, Jr"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Economics","degree_department":null,"school":null,"contributors":["Bernhardt, Dan"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2015,"date_issued":"2015-09-25T22:47:14Z","date_published":"2015-09-25T22:47:14Z","updated_at":"2026-07-22T22:26:25Z","subjects":["Economics, Finance"],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["(MiAaPQ)AAI3044259"],"render_values":[{"text":"(MiAaPQ)AAI3044259","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/85524","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Bernhardt, Dan"]},{"key":"dc:creator","label":"Author","values":["Westbrook, Harvey Birtill, Jr"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2015-09-25T22:47:14Z","10000-01-01","2002"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, Finance"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["http://hdl.handle.net/2142/85524","(MiAaPQ)AAI3044259"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["In the second chapter, we construct a model to test the impact of short sell restrictions on the price discovery process of Diamond exchange traded funds. Short sell restrictions prevent trading in individual stocks during down markets. Diamonds are traded continuously and hold a publicly known portfolio of DJIA stocks. We test the distributional implications of short sell restrictions by using trade level data to construct minute-by-minute trade level approximations of the Diamond portfolio and compare them to Diamonds during periods when the short sell restrictions bind. We find no evidence that short sell restrictions introduce persistent premiums or discounts.","Made available in DSpace on 2015-09-25T22:47:14Z (GMT). No. of bitstreams: 2 license.txt: 4848 bytes, checksum: 96035ab3f5e1c23cc7138a224ce498bd (MD5) 3044259.pdf: 5198252 bytes, checksum: 3eb8732627446b49a4fcbdd14dbda18c (MD5) Previous issue date: 2002","Embargo set by: Seth Robbins for item 86805 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","U of I Only","126 p.","Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2002."]},{"key":"dc:title","label":"Title","values":["Two Essays in Financial Economics"]}]}],"canonical_facts":{"dc:contributor":["Bernhardt, Dan"],"dc:creator":["Westbrook, Harvey Birtill, Jr"],"dc:date":["2015-09-25T22:47:14Z","10000-01-01","2002"],"dc:description":["In the second chapter, we construct a model to test the impact of short sell restrictions on the price discovery process of Diamond exchange traded funds. Short sell restrictions prevent trading in individual stocks during down markets. Diamonds are traded continuously and hold a publicly known portfolio of DJIA stocks. We test the distributional implications of short sell restrictions by using trade level data to construct minute-by-minute trade level approximations of the Diamond portfolio and compare them to Diamonds during periods when the short sell restrictions bind. We find no evidence that short sell restrictions introduce persistent premiums or discounts.","Made available in DSpace on 2015-09-25T22:47:14Z (GMT). No. of bitstreams: 2 license.txt: 4848 bytes, checksum: 96035ab3f5e1c23cc7138a224ce498bd (MD5) 3044259.pdf: 5198252 bytes, checksum: 3eb8732627446b49a4fcbdd14dbda18c (MD5) Previous issue date: 2002","Embargo set by: Seth Robbins for item 86805 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","U of I Only","126 p.","Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2002."],"dc:identifier":["http://hdl.handle.net/2142/85524","(MiAaPQ)AAI3044259"],"dc:language":["eng"],"dc:subject":["Economics, Finance"],"dc:title":["Two Essays in Financial Economics"],"dc:type":["text"],"thesis:degree_discipline":["Economics"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Ph.D."],"thesis:institution_name":["University of Illinois at Urbana-Champaign"]},"updated_at":"2026-07-22T22:26:25Z"}