The effect of ETFs on financial markets
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Keywords
Comovement ; Exchange-traded funds ; Liquidity ; Price discovery ; VolatilityAbstract
ETFs (exchange-traded funds) are one of the most rapidly increasing financial products in the world. Total assets invested in ETFs have more than doubled in 15 years, hitting $5.1 trillion at the end of 2021. ETFs have several benefits over their nearest competitors, such as traditional index funds, including increased demand for passive investing, strong liquidity, and cheap transaction costs. Aside from the continued rise of ETFs, the Flash Crash in 2010 prompted regulators to conduct extensive examinations into how ETFs affect the financial markets. This literature review gives a general summary of recent academic studies examining the impact of ETFs on underlying securities liquidity, price discovery, volatility, and comovement.
Postgraduate Studies Programme
Χρηματοοικονομική και Τραπεζική με ειδίκευση στη Χρηματοοικονομική και Τραπεζική ΔιοικητικήDepartment
Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής ΔιοικητικήςNumber of pages
69Language
English
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα