Iselin, Michael; Liao, Scott; Zhang, Haiwen - 2021
systemic risk of the banking system. Examining this relation is important because common mutual fund ownership has increased … dramatically over the past 20 years, and a buildup of systemic risk was at the heart of the 2008-2009 financial crisis. We predict … systemic risk. We further predict and find that this association is primarily driven by passive mutual funds. We provide …