DRM Digital Rights Management

[kenco]

"The evidence shows that when firms take anti-shorting actions, their stock returns are
extraordinarily low over the subsequent months and years. The evidence confirms the hypothesis
that short sale constraints allow stocks to become overpriced. While the underperformance of -2
per month is very large, it is similar in magnitude to the -1 to -10 range found in other studies of
stocks with very high short sale constraints."


http://www.mba.yale.edu/pdf/godownfighting.pdf


I hope that this study isnt too far over your head