Exchange-traded funds and real investment
We investigate the link between exchange-traded funds and real investment. Cross-sectionally, higher ETF ownership is associated with an increased sensitivity of real investment to Tobin's q and a heightened ability of stock returns to forecast future earnings. Inclusion of stocks in industry E...
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格式: | text |
語言: | English |
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Institutional Knowledge at Singapore Management University
2023
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在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/7060 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8059/viewcontent/Exchange_Traded_Funds_and_Real_Investment.pdf |
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