Competition Effects of a New Asset on a Similar Existing Asset in the Same Market: The iShares Versus the Closed-End Country Fund

The study examines an old but unique event from a new perspective and provides important insights to the financial literature. The result suggests that the competition from the later-launched iShares funds can improve pricing efficiency but decrease liquidity of the corresponding existing country fu...

Full description

Saved in:
Bibliographic Details
Published in:Review of Pacific basin financial markets and policies 2022-06, Vol.25 (2)
Main Authors: Tsai, Pei-Jung, Ho, Chia-Cheng, Tsai, Pei-Su
Format: Article
Language:English
Subjects:
Assets
Developed countries
Emerging markets
Funds
Liquidity
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The study examines an old but unique event from a new perspective and provides important insights to the financial literature. The result suggests that the competition from the later-launched iShares funds can improve pricing efficiency but decrease liquidity of the corresponding existing country funds. Furthermore, these effects are more profound for emerging country funds than for developed country funds.
ISSN:0219-0915
1793-6705
DOI:10.1142/S0219091522500114