The past two decades have seen a significant shift from active to passive investment
strategies. We examined how this shift affects financial stability through its impacts on (1) …

The practice of periodically reconstituting equity indices suggests that changes to the
composition of an index can impact the performance of firms whose stocks are added to or …

Full coverage of ETF investments from an expert in the field The initial edition of Gary
Gastineau's The Exchange-Traded Fund Manual was one of the first books to describe and …

We provide new evidence linking board characteristics and performance. Using manually
collected governance data from the mutual fund industry, we find an inverse relation …

We investigate the long-term effects of S&P 500 index additions and deletions on a sample
of stocks from 1962 to 2003 and find a significant long-term price increase for both added …

This paper examines how style drift behavior of Chinese fund managers moderates the
impact of network centrality on fund performance. We first construct network connections of …

We investigate the long-term impacts of index reconstitutions for stocks added to or deleted
from the CSI 300 Index, the central indicator of the Chinese equity market. We find that both …

We examine the long-term performance of stocks appearing in the Dow Jones Sustainability
Index North America. We find that sustainability stocks exhibit abnormal returns for 12–30 …

We study the dynamic causal effects of the shareholding ratio of controlling shareholder on
tunneling behavior in China. We use control-right-transfers as the event to conduct the study …

Motivated by the mixed results of the few prior studies, we focus on the short‐term price
performance of stocks added to or deleted from the CSI 300 Index. Consistent with the price …