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Ślusarczyk Radosław (Cracow University of Economics, Poland, PhD student)
Short Selling Restrictions in Connection with the Financial Crisis of 2007-09
Regulacje prawne dotyczące krótkiej sprzedaży wprowadzone w związku z kryzysem finansowym lat 2007-2009
Argumenta Oeconomica Cracoviensia, 2013, no 9, s. 67-90, tab., bibliogr. 38 poz.
Kryzys finansowy, Rynki finansowe, Regulacje prawne, Krótka sprzedaż
Financial crisis, Financial markets, Legal regulations, Short sale
summ., streszcz.
W artykule podjęta została problematyka regulacji funkcjonowania krótkiej sprzedaży na rynku finansowym. Przedstawiono zmiany wprowadzone przez władze regulacyjne w USA oraz na szczeblu centralnym Unii Europejskiej w odpowiedzi na kryzys finansowy w tej istotnej dla funkcjonowania rynku finansowego kwestii. By lepiej przybliżyć wskazaną problematykę, przeprowadzono także charakterystykę pojęcia krótkiej sprzedaży, omówiono teoretyczne koncepcje wyjaśniające jej wpływ na funkcjonowanie rynku kapitałowego oraz przedstawiono historię jej regulacji na rynkach finansowych. (abstrakt oryginalny)

The aim of this article is to discuss legal solutions and their influence on the functioning of the financial market. These solutions were implemented by regulatory authorities in the United States and at the ministerial level in the European Union in the wake of the financial crisis. To better understand the given problem, the following issues are discussed: the profile of short selling, the theoretical concepts explaining its influence on the capital market, and its regulation on financial markets. (original abstract)
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Full text
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