Campus Only Senior Thesis
Bachelor of Arts
© 2013 James R. McNab
This paper examines the effect capital flows from the introduction of exchange traded funds (ETFs) have on emerging markets. Recent years have seen more capital transfer into emerging markets, and the advantages ETFs offer have helped expedite the process. Increased liquidity and a large diverse collection of holdings help manage the high degree of volatility inherent to these markets. The holdings of the ETFs are tested for returns above their market average for the period surrounding the initial trading date of the fund. Positive effects were seen on individual stocks, but overall the findings suggest no significant mean excess return exists for the period related to the creation of an ETF.
McNab, James R., "The Effects of Exchange Traded Funds on Emerging Market Equities" (2013). CMC Senior Theses. 727.
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.