| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16376 |
| 来源ID | Working Paper 16376 |
| On the Economic Consequences of Index-Linked Investing | |
| Jeffrey Wurgler | |
| 发表日期 | 2010-09-16 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Trillions of dollars are invested through index funds, exchange-traded funds, and other index derivatives. The benefits of index-linked investing are well-known, but the possible broader economic consequences are unstudied. I review research which suggests that index-linked investing is distorting stock prices and risk-return tradeoffs, which in turn may be distorting corporate investment and financing decisions, investor portfolio allocation decisions, fund manager skill assessments, and other choices and measures. These effects may intensify as index-linked investing continues to grow in popularity. |
| 主题 | Financial Economics ; Financial Markets ; Portfolio Selection and Asset Pricing ; Financial Institutions |
| URL | https://www.nber.org/papers/w16376 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574051 |
| 推荐引用方式 GB/T 7714 | Jeffrey Wurgler. On the Economic Consequences of Index-Linked Investing. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16376.pdf（201KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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