The real effects of exchange traded funds
This paper investigates the effects of exchange-traded funds (ETFs) on the real efficiency of the underlying securities. We document strong evidence that being held by ETFs increases the sensitivity of a firm's investment to its own stock price. This is consistent with the model prediction on t...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2018
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5949 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6948/viewcontent/SSRN_id3129369.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
