Passive investments such as exchange-traded funds (ETFs) provide an opportunity to invest
in indexes, asset classes, and sectors with low maintenance costs and high transparency …

We evaluate the robustness of momentum returns in the US stock market over the period
1965–2012. We find that momentum profits have become insignificant since the late 1990s …

Purpose Informational efficiency is a fundamental aspect of capital market quality, and
therefore, regulators, managers and practitioners attempt to find ways to improve the …

Central banks, in both developed and developing economies, are responding to the
increased demand for transparency in monetary policy formulation and implementation. It is …

In this paper, we examine the relation between managerial discretion in accruals and
informational efficiency. We measure managerial discretion in accruals by the absolute …

Purpose The purpose of this paper is to empirically examine the volatility and return spillover
between exchange-traded funds (ETFs) and their respective benchmark indices in India …

This study examines the tracking performance of two Hong Kong exchange-traded funds
(ETFs): Tracker Fund and X iShares A50. The turnover of these two ETFs was more than half …

The scale of global exchange-traded funds (ETFs) has shown an explosive growth trend;
however, research on the impact of ETF activity on the stock market is still in its infancy …

We analyze stock price behavior around reconstitutions of the German DAX index family
from 1990 to 2013. The strong price run-up of added stocks in the 2 months preceding the …

This paper investigates the weak-form market efficiency of Indian gold ETF market for the
period 2009-2013. Daily returns for the premier gold ETF assets are examined for random …