Passive Ownership and Price Informativeness
References
- (2023) Exchange-traded funds and real investment. Rev. Financial Stud. 36(3):1043–1093.Google Scholar
- (2016) Passive investors, not passive owners. J. Financial Econom. 121(1):111–141.Crossref, Google Scholar
- (2020) Identification using Russell 1000/2000 index assignments: A discussion of methodologies. Critical Finance Rev. 121(1):111–141.Google Scholar
- (2024) Two-sided platform governance: Are founders manipulating the crowd in crowdfunding? Preprint, submitted January 9, http://dx.doi.org/10.2139/ssrn.4687869.Google Scholar
- (2016) Have financial markets become more informative? J. Financial Econom. 122(3):625–654.Crossref, Google Scholar
- (1968) An empirical evaluation of accounting income numbers. J. Accounting Res. 6(2):159–178.Crossref, Google Scholar
- (2018) Do ETFs increase volatility? J. Finance 73(6):2471–2535.Crossref, Google Scholar
- (2017) It depends on where you search: Institutional investor attention and underreaction to news. Rev. Financial Stud. 30(9):3009–3047.Crossref, Google Scholar
- (2020a) Does the stock market make firms more productive? J. Financial Econom. 136(2):281–306.Crossref, Google Scholar
- (2020b) Does joining the S&P 500 index hurt firms? NBER Working Paper No. 27593, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2018) Can ETFs increase market fragility? Effect of information linkages in ETF markets. Preprint, submitted March 4, 2016, http://dx.doi.org/10.2139/ssrn.2740699.Google Scholar
- (2022) The equilibrium consequences of indexing. Rev. Financial Stud. 35(7):3175–3230.Crossref, Google Scholar
- (2019) Institutional investors and information acquisition: Implications for asset prices and informational efficiency. Rev. Financial Stud. 32(6):2260–2301.Crossref, Google Scholar
- (2019) The economic impact of index investing. Rev. Financial Stud. 32(9):3461–3499.Crossref, Google Scholar
- (2023) More risk, more information: How passive ownership can improve informational efficiency. Rev. Financial Stud. 36(12):4713–4758.Google Scholar
- (1988) Stock prices, earnings, and expected dividends. J. Finance 43(3):661–676.Crossref, Google Scholar
- (2001) Have individual stocks become more volatile? An empirical exploration of idiosyncratic risk. J. Finance 56(1):1–43.Crossref, Google Scholar
- (2021) The sound of many funds rebalancing. Rev. Asset Pricing Stud. 11(3):502–551.Crossref, Google Scholar
- (2024) The passive-ownership share is double what you think it is. J. Financial Econom. 157:103860.Google Scholar
- (2007) Law and the market: The impact of enforcement. Univ. Pennsylvania Law Rev. 156(2):229–311.Google Scholar
- (2012) Complicated firms. J. Financial Econom. 104(2):383–400.Crossref, Google Scholar
- (2003) The value spread. J. Finance 58(2):609–641.Crossref, Google Scholar
- (2022) On index investing. J. Financial Econom. 145(3):665–683.Crossref, Google Scholar
- (2024) The rise of factor investing: “passive” security design and market implications. NBER Working Paper No. 32016, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2018) Passive vs. active fund performance: Do index funds have skill? J. Financial Quant. Anal. 53(1):33–64.Crossref, Google Scholar
- (2018) Identifying price informativeness. NBER Working Paper No. 25210, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2017) Passive institutional ownership, R2 trends, and price informativeness. Financial Rev. 52(4):627–659.Crossref, Google Scholar
- (2020) A comparison of some structural models of private information arrival. J. Financial Econom. 135(3):795–815.Crossref, Google Scholar
- (2009) Fundamental uncertainty, earning announcements and equity options, https://www.researchgate.net/publication/266274626_Fundamental_uncertainty_earning_announcements_and_equity_options.Google Scholar
- (2021) Stock-specific price discovery from ETFs. Working paper, University of Maryland, College Park.Google Scholar
- (2006) The disposition effect and underreaction to news. J. Finance 61(4):2017–2046.Crossref, Google Scholar
- (2010) Signal orderings based on dispersion and the supply of private information in auctions. Econometrica 78(3):1007–1030.Crossref, Google Scholar
- (2018) Active and passive investing: Understanding Samuelson’s dictum. Preprint, submitted October 15, http://dx.doi.org/10.2139/ssrn.3253537.Google Scholar
- (2018) The effects of institutional investors on firm outcomes: Empirical pitfalls of quasi-experiments using Russell 1000/2000 index reconstitutions. Preprint, submitted May 30, http://dx.doi.org/10.2139/ssrn.3180776.Google Scholar
- (2021) ETF activity and informational efficiency of underlying securities. Management Sci. 67(1):22–47.Link, Google Scholar
- (2022) The disappearing index effect. NBER Working Paper No. 30748, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (1980) On the impossibility of informationally efficient markets. Amer. Econom. Rev. 70(3):393–408.Google Scholar
- (2023) Reusing natural experiments. J. Finance 78(4):2329–2364.Google Scholar
- Investment Company Institute (2022) Fact book. Technical report, Investment Company Institute, Washington, DC.Google Scholar
- (2017) Is there a dark side to exchange traded funds? An information perspective. Rev. Accounting Stud. 22(3):1048–1083.Crossref, Google Scholar
- (2024) Market power and price informativeness. Rev. Econom. Stud. rdae077.Google Scholar
- (2018) Do foreign investors improve market efficiency? NBER Working Paper No. 24765, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2016) The price of political uncertainty: Theory and evidence from the option market. J. Finance 71:2417–2480.Crossref, Google Scholar
- (2023) ETF activities and analysts’ forecasts. Preprint, submitted April 6, http://dx.doi.org/10.2139/ssrn.4398547.Google Scholar
- (1985) Continuous auctions and insider trading. Econometrica. 53(6):1315–1335.Crossref, Google Scholar
- (2020) Passive investing and price efficiency. Preprint, submitted December 9, http://dx.doi.org/10.2139/ssrn.3725248.Google Scholar
- (2017) The use of edgar filings by investors. J. Behav. Finance 18(2):231–248.Crossref, Google Scholar
- (2023) Measuring firm complexity. J. Financial Quant. Anal. Epub ahead of print May 15, https://doi.org/10.1017/S0022109023000716.Crossref, Google Scholar
- (2003) The Russell reconstitution effect. Financial Anal. J. 59(4):51–64.Crossref, Google Scholar
- (2014) Exchange-traded funds: An overview of institutions, trading, and impacts. Annual Rev. Financial Econom. 6(1):311–341.Crossref, Google Scholar
- (2016) Exchange-Traded Funds and the New Dynamics of Investing (Oxford University Press, New York).Crossref, Google Scholar
- (2020) Information, participation, and passive investing. Preprint, submitted December 15, 2018, http://dx.doi.org/10.2139/ssrn.3299280.Google Scholar
- (2019) Looking for Easy Games in Bonds (Bluemountain Investment Research), https://ejvanalytics.com/wp-content/uploads/2018/08/2017.01.04-Credit-Suisse.pdf.Google Scholar
- (2001) The mysterious growing value of S&P 500 membership. NBER Working Paper No. 8654, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2022) Benchmarking intensity. Rev. Financial Stud. 36(3):859–903.Crossref, Google Scholar
- (2015) Indexing and stock price efficiency. Financial Management 44(4):875–904.Crossref, Google Scholar
- (1988) R-squared. J. Finance 43(2):541–566.Google Scholar
- (1991) The arithmetic of active management. Financial Anal. J. 47(1):7–9.Crossref, Google Scholar
- (2022) Passive ownership and short selling. International Finance Discussion Papers 1365, Board of Governors of the Federal Reserve System, Washington, DC.Google Scholar
- (2018) Does algorithmic trading reduce information acquisition? Rev. Financial Stud. 31(6):2184–2226.Crossref, Google Scholar
- (2010) On the economic consequences of index-linked investing. NBER Working Paper No. 16376, National Bureau of Economic Research, Cambridge, MA.Google Scholar

