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Exchange-traded Funds, Investment Strategies, and Financial Stability

Title data

Baumann, Michael Heinrich ; Baumann, Michaela ; Herz, Bernhard:
Exchange-traded Funds, Investment Strategies, and Financial Stability.
2018
Event: Seventeenth Annual European Economics and Finance Society Conference (EEFS2018) , 21.-24. Juni 2018 , Department of Economics, City, University of London, London, England.
(Conference item: Conference , Speech )

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Project information

Project financing: Bundesministerium für Bildung und Forschung
Hanns-Seidel-Stiftung
Promotionsstipendium

Abstract in another language

Exchange-traded Funds (ETFs) are easy to understand, cost-efficient ways of investing in asset markets that have become very popular for both institutional and retail investors. The dynamics of the index and its underlying assets depend among others on the different types of traders in the market, price trends in individual stocks and the overall market, as well as over- or undervaluation of individual stocks and the index. Investing in an index of assets via an ETF can generate quite complex and sometimes counterintuitive investment behaviors on the level of individual assets. Seemingly stabilizing investment behavior on the level of the ETF might actually lead to destabilizing effects on the level of individual stocks.

Further data

Item Type: Conference item (Speech)
Refereed: Yes
Keywords: Exchange-traded index funds; ETF; index fund; financial stability; trading behavior
Subject classification: JEL: D01, G10, G11
Institutions of the University: Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I > Chair Economics I - Univ.-Prof. Dr. Bernhard Herz
Profile Fields > Advanced Fields > Nonlinear Dynamics
Research Institutions > Research Centres > Forschungszentrum für Modellbildung und Simulation (MODUS)
Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I
Profile Fields
Profile Fields > Advanced Fields
Research Institutions
Research Institutions > Research Centres
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
500 Science > 510 Mathematics
Date Deposited: 28 Aug 2018 07:08
Last Modified: 28 Aug 2018 07:08
URI: https://eref.uni-bayreuth.de/id/eprint/45590