Gao, Fei; Li, Bingqiao - In: Fintech, pandemic, and the financial system : …, (pp. 243-272). 2023
The authors examine the factors that impact the growth of exchange traded funds (ETFs) from 1990 to 2020. The authors show the first-mover and winner-takes-all effects from top ETF issuers. Besides the longer history and larger asset under management (AUM), the ETFs being managed by top issuers...
