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Exchange-Traded Funds: An Overview of Institutions, Trading, and Impacts

Exchange-Traded Funds: An Overview of Institutions, Trading, and Impacts Exchange-traded funds (ETFs) have grown substantially in diversity and size in recent years, reflecting a broader shift toward passive, index investing. As a consequence, there is increased attention by investors, regulators, and academics seeking to assess and understand the implications of this rapid growth. This article provides a unified framework to examine these issues and review the research to date, demonstrating that ETFs have extended significant benefits to investors and to the functioning of markets that meaningfully outweigh any perceived or actual weaknesses. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annual Review of Financial Economics Annual Reviews

Exchange-Traded Funds: An Overview of Institutions, Trading, and Impacts

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Publisher
Annual Reviews
Copyright
Copyright © 2014 by Annual Reviews. All rights reserved
ISSN
1941-1367
eISSN
1941-1375
DOI
10.1146/annurev-financial-110613-034316
Publisher site
See Article on Publisher Site

Abstract

Exchange-traded funds (ETFs) have grown substantially in diversity and size in recent years, reflecting a broader shift toward passive, index investing. As a consequence, there is increased attention by investors, regulators, and academics seeking to assess and understand the implications of this rapid growth. This article provides a unified framework to examine these issues and review the research to date, demonstrating that ETFs have extended significant benefits to investors and to the functioning of markets that meaningfully outweigh any perceived or actual weaknesses.

Journal

Annual Review of Financial EconomicsAnnual Reviews

Published: Dec 1, 2014

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