Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 26 for “"Exchange Traded Funds"”.
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Three Essays on Exchange-Traded Funds
Chapter 1 The rise of exchange-traded funds (ETFs) has attracted significant attention from investors, regulators, and academics alike. Despite the widely asserted importance of authorized participants (APs) to ETFs' structure and function, little is known about the effects of AP behavior on ETFs …
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Essays in Asset Management: Mutual Funds and Exchange-traded Funds
… to fund management, and in particular, mutual funds (MFs) and exchange-traded funds (ETFs). The first essay studies the decision by an asset manager to launch an exchange-traded fund (ETF). Fund families focus on both revenue generation and cost reduction when making launching decisions, with …
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Robo-Advising on South African Exchange Traded Funds utilizing Prospect Theory
Robo-advising is an emerging trend in markets around the world. The term has come to refer almost exclusively to automated advisory services for financial investments or wealth management. Currently, in the South African market, financial services firms offer their own robo-advising platforms that …
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Volatility spillover between Exchange-Traded Funds on the Johannesburg Stock Exchange
Growth in the Exchange-Traded Fund industry (ETF) has been exponential in the past decade. International research on this topic has been extensive, with less focus given to the local Johannesburg Stock Exchange (JSE). This research aims to extend the existing literature on the JSE, particularly …
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The bank of Japan’s intervention in exchange-traded funds as an effective monetary policy tool
… domestic stock market through the purchase of exchange-traded funds. This research study evaluated the impact of the Bank of Japan’s exchange-traded fund purchase programme on market returns using an event study methodology. An investigation into a sample of 33 intervention events in the Nikkei …
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Perfomance evaluation of the tracking ability and pricing efficiency of exchange traded funds (ETFs) in South Africa
… the listing of the Satrix 40 in November 2000, Exchange Traded Fund (ETFs) have grown to become an investment vehicle of choice amongst retail and institutional investors of the Johannesburg Securities Exchange (JSE). Albeit gaining such an enormous traction, investors’ remains curious about …
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Exchange traded funds and their association with the volatility of the daily returns of major South African banks
… of major South African Bank shares by the Exchange Traded Fund (ETF) market in South Africa along with ETF's unique trading dynamics (for the purposes of this dissertation, “ETF's unique trading dynamics” refers to the relationship between ETFs and their constituent shares through the ETF …
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Essays on Financial Market Structure
… between brokers and investors. Second, I study Exchange Traded Funds, and their impact on their constituent assets. Finally, I study crowdfunding as a means for entrepreneurs to resolve uncertainty regarding demand for their projects. Many investors do not access equity markets directly; instead …
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Two Essays in Financial Economics
… on the price discovery process of Diamond exchange traded funds. Short sell restrictions prevent trading in individual stocks during down markets. Diamonds are traded continuously and hold a publicly known portfolio of DJIA stocks. We test the distributional implications of short sell …
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How Well Do Commodity Based ETFs Track Underlying Assets?
Exchange Traded Funds are growing in popularity and volume, however academic literature related to their performance is limited. This study analyzes how well the CORN, WEAT, SOYB, USO, and UGA commodity ETFs track their respective futures assets during the period of January 2012 to October 2017. …
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Two Essays on Liquidity Essay I: Information Related Trading on Two Nearly Identical Options Essay II: The Importance of the Liquidity Premium in the Presence of Declining Transactions Cost
… I examine the impact of the introduction of exchange traded funds (ETFs) options on the information related trading of index options. Two option pairs, NASDAQ 100 index (NDX) and ETF (QQQ, currently QQQQ ) options, and Standard and Poor's 500 index (SPX) options and S & P Depository Receipts …
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Replicating the carry trade through an exchange traded fund
… hedge fund strategy through the structure of an exchange traded fund. The interest rate spread between two different currencies should be an expectation of future exchange rates, however, empirically, this belief does not hold true. The carry trade takes advantage of this violation of uncovered …
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Performance Evaluation of South African Mutual Funds: The Effects of Fees on Performance
… African equity, bond and money market mutual funds between June 2010 and July 2019. This paper tries to evaluate whether South African active mutual funds warrant their active fees. 31 equity funds, 14 bond funds and 21 money market funds are examined in order to compare the performance of the …
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Essays in financial economics
… model of an ETF. Conventional wisdom warns that exchange-traded funds (ETFs) harm stock price discovery, either by ``stealing'' single-stock liquidity or forcing stock prices to co-move. Contra this belief, I develop a theoretical model that investors with stock-specific information trade both …
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Frictions in firms and markets
Submission published under a 24 month embargo labeled 'Closed Access', the embargo will last until 2025-05-01
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Two Essays Relating to Mutual Fund Performance
… other issues. In the first chapter, we look at exchange-traded funds (ETFs) and how they differ from index funds in performance and tracking error. Using daily data and a more comprehensive sample than past research, we find abnormal returns associated with the ETFs are higher than the alphas of …
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Modelling spot prices, risk management, and investment strategies for the energy markets
… can be used by fund managers to set-up energy Exchange Traded Funds that would track the performance of the SEI, giving them the full flexibility of any investment style, long or short, that equities can provide.
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How can Market Making Aid in Developing Financial Markets
… trading to the establishment of formal stock exchanges and the subsequent advancements driven by technological innovations. The analysis highlights the indispensable function of market makers in global financial markets, emphasizing their contributions to liquidity provision, price discovery, …
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Essays in financial economics
… the effect of competition from low-cost index funds on fees in the money management industry. A difference-in-differences analysis exploiting the staggered entry of index funds finds that while actively managed funds sold directly to retail investors reduce fees by six percent, those sold …
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Essays on Islamic Finance and Banking
… by examining whether Shari‘ah compliant exchange traded funds (ETFs) have potential diversification benefits to a volatile portfolio of investments in emerging markets. The portfolio consists of three asset classes: conventional and fixed-income securities in emerging markets and Shari‘ah …
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