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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: Forschungsseminar am Lehrstuhl Finanzierung und Banken der Martin-Luther-Universität Halle-Wittenberg
, 6. November 2018
, Halle, Deutschland.
(Conference item: Lecture series
,
Speech
)
Abstract in another language
Exchange-traded Funds (ETFs) are easy to understand, cost-efficient, and liquid investment vehicles based on market indices that have become very popular for both institutional and retail investors. The dynamics of the index and its underlying assets are closely interlinked based on the rebalancing effect and 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 strategies, such as a fundamentalist approach, 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: |
No |
| Keywords: |
Exchange-traded Funds; ETF; index fund; financial stability; trading behavior
|
| Subject classification: |
JEL codes 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 > Former Professors > Chair Economics I - International Economics and Finance - Univ.-Prof. Dr. Bernhard Herz
Profile Fields > Advanced Fields
Profile Fields > Advanced Fields > Nonlinear Dynamics
Research Institutions > Central research institutes > Bayreuth Research Center for Modeling and 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 - International Economics and Finance
Profile Fields
Research Institutions
Research Institutions > Central research institutes
Faculties > Faculty of Law, Business and Economics > Department of Economics > Former Professors |
| Result of work at the UBT: |
Yes |
| DDC Subjects: |
300 Social sciences > 330 Economics
500 Science > 510 Mathematics |
| Date Deposited: |
14 Jan 2019 15:38 |
| Last Modified: |
14 Jan 2019 15:38 |
| URI: |
https://eref.uni-bayreuth.de/id/eprint/46917 |
|
