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背景介绍卖空是股市交易的一种基本模式。虽然卖空的产生几乎与股市的产生一样早(形成于17世纪初的阿姆斯特丹股票市场被认为是最早的现代股市),卖空却往往被股市的监管机构禁止。被禁止的原因最初是在道德方面,卖空者的获利是基于其他人的损失,即股票价格下跌,后来是由于担心卖空会增加股市的恐慌,当有负面消息时,卖空加剧了股价的下跌。其它的原因包括允许卖空使雄厚资本对股市的操纵变得更加容易。但是学者不断地提出上述对卖空的指责都是一厢情愿,卖空并不具备
Background Short selling is a basic pattern of stock market trading. Although short sales were generated almost as early as the stock market, which formed the earliest modern stock markets in the early 17th century, short selling was often banned by the stock market regulators. The reasons for being banned were initially moral. The short seller’s profit was based on the loss of others, ie, the decline in stock prices, and the subsequent concern that short selling would increase the stock market panic. Short selling intensified when there was negative news Stock prices fall. Other reasons include allowing short selling to ease the manipulation of the stock market by strong capital. However, scholars continue to raise the above allegations of short selling are wishful thinking, short selling does not have