Lost in the Rising Tide: Exchange-traded Fund Flows and Valuation
The last decade has witnessed a dramatic growth in passive investing via exchange-traded funds (ETFs). To the extent that the demand for stocks via ETF flows is not related to firm-specific fundamental values, large ETF flows may push the price of the underlying stocks away from their fundamentals-b...
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| Language: | English |
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2019
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| Online Access: | https://doi.org/10.7916/d8-3ty9-6592 |