Exchange traded funds : is money smart? a study on flow-performance relationship.

• Main Authors: Wang, Ke Jun., Ho, Mark Wei Xian., Teo, Nigel Cheng Song.
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business; DRNTU::Business::Finance
• Online Access: http://hdl.handle.net/10356/51554
• Institution: Nanyang Technological University

This paper studies the relationship between investor flow and performance of Exchange Traded Funds (“ETFs”) in the United States (“US”) between 2003 - 2010. Investors often make investment decisions based on the historical performance of an investment asset, implying that a higher historical return...