Northern Finance Association – Benefits Canada.com

How does a rise in passive investing impact corporate governance?

mschmit — Tue, 27 Oct 2020 08:42:33 +0000

Institutional investors own more than 70 per cent of U.S. public firms and passive funds have seen significant growth, from five per cent of mutual funds in 2000 to more than 30 per cent today, but the jury is still out on what this means for corporate governance. Using a theoretical framework, a new paper […]

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Are speed bumps in financial markets accomplishing their goals?

mschmit — Tue, 27 Oct 2020 08:36:23 +0000

With the prevalence of high-frequency trading, some financial market exchange platforms have imposed speed bumps to delay trading orders and slow these traders down. “Of course, the details will be different from exchange to exchange, but basically, they slow down or [they] impose some time lags between the order placement by high-frequency traders and order […]

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How institutional investors can unsmooth illiquid returns

mschmit — Tue, 27 Oct 2020 08:32:09 +0000

As institutional investors increase allocations to alternative investments, it becomes increasingly challenging to understand risk. A new paper, co-authored by Spencer Couts, assistant professor of real estate at the University of Southern California; Andrei S. Goncalves, an assistant professor of finance at the University of North Carolina; and Andrea Rossi, an assistant professor of finance […]

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Should social security benefits be considered when looking at wealth inequality?

mschmit — Tue, 27 Oct 2020 08:29:09 +0000

People often discuss the wealth gap between the top one per cent and the rest of the population, but measures of wealth inequality don’t consider social security retirement benefits. A new paper by Sylvain Catherine, an assistant professor of finance at the Wharton School of the University of Pennsylvania; Max Miller, a PhD candidate in […]

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How to beat the crowd in factor investing

mschmit — Mon, 19 Oct 2020 06:42:04 +0000

Can factor investing continue to give investors an edge if everyone’s doing it? Interest in using factors to invest has been on an upward trend and is still rising, says Alberto Martin-Utrera, an assistant professor of finance at the New Jersey Institute of Technology. “The assets under management have grown exponentially in the last decade, […]

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A look at ESG’s influence on market efficiency

mschmit — Thu, 10 Oct 2019 04:44:04 +0000

With the rise in socially responsible investing and quantitative strategies, are institutional investors that incorporate environmental, social and governance factors making markets less efficient and increasing mispricing signals? The link between socially responsible investing and the efficacy of signals used by quantitative investors is explored in a new working paper by Jie Cao, associate professor […]

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Do ETFs increase liquidity?

mschmit — Thu, 30 Aug 2018 04:11:57 +0000

Research shows they do - but not during times of market stress

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The lost capital asset pricing model

mschmit — Tue, 28 Aug 2018 05:42:11 +0000

Why it might be time to ignore CAPM’s critics

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A Better Way to Capture Emerging Markets Growth

mschmit — Wed, 05 Oct 2016 02:57:06 +0000

New paper seeks to tap the power of export-oriented firms

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