Exchange-traded funds and the new dynamics of investing /

"In Exchange-Traded Funds and the New Dynamics of Investing, Ananth Madhavan examines the quiet transformation of asset management through the rise of passive or index investing. A closely-related phenomenon is the rise of exchange-traded funds (ETFs). An ETF is an investment vehicle that trade...

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Bibliographic Details
Main Author:	Madhavan, Ananth N. (Author)
Format:	eBook
Language:	English
Published:	New York : Oxford University Press, 2016.
Series:	Financial Management Association survey and synthesis series.
Subjects:	Exchange traded funds. Stock index futures. Trackers (Finances) Marchés à terme d'indices boursiers. BUSINESS & ECONOMICS > Corporate Finance. BUSINESS & ECONOMICS > Finance. Exchange traded funds Stock index futures Electronic books.
Online Access:	Connect to the full text of this electronic book

Table of Contents:

Cover ; Series ; Exchange-Traded Funds and the New Dynamics of Investing; Copyright ; Contents ; Preface ; Acknowledgments ; Part I Passive Investing; 1. The Current Landscape ; 1.1. Introduction ; 1.2. Active and Passive Investing ; 1.2.1. Rise of Indexing ; 1.2.2. Investment Strategies.
1.3. Evolution of Investment Ideas 1.3.1. Benchmarks ; 1.3.2. Determinants of Active Performance ; 1.3.3. Purity Hypothesis ; 1.4. Investment Vehicles ; 1.4.1. Exchange-Traded Funds and Other Fund Structures; 1.4.2. Advantages of the ETF Structure ; 1.4.3. Asset Classes and Diversity of Exposures.
1.4.4. Criticisms of Passive Indexing and ETFs 1.5. Chapter Summary ; 2. Structure and Mechanics ; 2.1. Introduction ; 2.2. ETF Structure ; 2.2.1. Authorized Participants ; 2.2.2. Creation/Redemption Mechanism; 2.2.3. Arbitrage:€Value and Price ; 2.2.4. In-Kind Transactions and Tax Efficiency; 2.3. Nomenclature.
2.4. Governance, Management Structure, and Legal Aspects 2.4.1. Fundamentals of Regulation ; 2.4.2. Exemptive Relief ; 2.5. Industrial Organization ; 2.6. Chapter Summary ; Part II Valuation, Pricing, and Trading; 3. Price Dynamics and Arbitrage ; 3.1. Introduction ; 3.2. Conceptual Framework.
3.2.1. Definitions 3.2.2. Pricing and Liquidity ; 3.2.3. Speed of Arbitrage ; 3.2.4. Premiums and Discounts ; 3.2.5. Special Cases of the Model ; 3.2.6. Practical Illustration ; 3.3. Theoretical Results ; 3.3.1. Decomposition of Premiums ; 3.3.2. Economic Significance.