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

    https://doi.org/10.1142/S0219091522500114Cited by:0 (Source: Crossref)

    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.

    JEL: E44, F02, G15