Network Structures of the US Market with ETFs

D 2015

Network Structures of the US Market with ETFs

LINNERTOVÁ, Dagmar

Základní údaje

Originální název

Network Structures of the US Market with ETFs

Autoři

LINNERTOVÁ, Dagmar (203 Česká republika, garant, domácí)

Vydání

AMSTERDAM, 2ND GLOBAL CONFERENCE ON BUSINESS, ECONOMICS, MANAGEMENT AND TOURISM, od s. 899-904, 6 s. 2015

Nakladatel

ELSEVIER SCIENCE BV

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50200 5.2 Economics and Business

Stát vydavatele

Nizozemské království

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

elektronická verze "online"

Kód RIV

RIV/00216224:14560/15:00082155

Organizační jednotka

Ekonomicko-správní fakulta

ISSN

DOI

http://dx.doi.org/10.1016/S2212-5671(15)00496-7

UT WoS

000360103600137

Klíčová slova anglicky

ETFs; correlation network; asset value; US market

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 17. 9. 2015 12:19, Ing. Dagmar Vágnerová Linnertová, Ph.D.

Anotace

V originále

The paper examines dependability and connectedness of US ETFs market. The ETFs market represents one of the most dynamic developing markets with new financial instruments. Since 1993, when the first ETF called Spider was introduced in dual listing in US and Canada, this market has grown to more than 3.200 ETF products at the end of 2013. About one third of these ETFs are traded in the United States in markets of NYSE that is dominating, Nasdaq or BATS. In the US market there are traded ETFs in the asset value more than 1.150 billion. Despite its fast growth and significant size, there is very little research on the structure of the ETFs market. The usage of network structure helps to fully identify relation between particular ETFs. In the analysis the most important ETFs (measured with their asset value) will be analysed on the individual and the provider basis. The provider basis is chosen because the US ETFs market is concentrated and three main providers (iShares, State Street Global Advisory and Vanguard) represent more than 80 percentage of the ETFs market. The application of the graph theory contributes to particularized understanding relations between these ETFs. Network modelling of ETFs market offers a powerful tool, because it provides much view on dependences of ETFs's behaviour. (C) The Authors. Published by Elsevier B.V.

Návaznosti

MUNI/A/0753/2012, interní kód MU

Název: Evropské finanční systémy 2013 (Akronym: EFS)

Investor: Masarykova univerzita, Evropské finanční systémy 2013, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Citovat

LINNERTOVÁ, Dagmar. Network Structures of the US Market with ETFs. Online. In Iacob, AI. 2ND GLOBAL CONFERENCE ON BUSINESS, ECONOMICS, MANAGEMENT AND TOURISM. AMSTERDAM: ELSEVIER SCIENCE BV, 2015, s. 899-904. ISSN 2212-5671. Dostupné z: https://dx.doi.org/10.1016/S2212-5671(15)00496-7.

@inproceedings{1205322,
   author = {Linnertová, Dagmar},
   address = {AMSTERDAM},
   booktitle = {2ND GLOBAL CONFERENCE ON BUSINESS, ECONOMICS, MANAGEMENT AND TOURISM},
   doi = {http://dx.doi.org/10.1016/S2212-5671(15)00496-7},
   editor = {Iacob, AI},
   keywords = {ETFs; correlation network; asset value; US market},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {AMSTERDAM},
   note = {v tisku},
   pages = {899-904},
   publisher = {ELSEVIER SCIENCE BV},
   title = {Network Structures of the US Market with ETFs},
   year = {2015}
}

TY  - JOUR
ID  - 1205322
AU  - Linnertová, Dagmar
PY  - 2015
TI  - Network Structures of the US Market with ETFs
PB  - ELSEVIER SCIENCE BV
CY  - AMSTERDAM
N1  - v tisku
KW  - ETFs
KW  - correlation network
KW  - asset value
KW  - US market
N2  - The paper examines dependability and connectedness of US ETFs market. The ETFs market represents one of the most dynamic developing markets with new financial instruments. Since 1993, when the first ETF called Spider was introduced in dual listing in US and Canada, this market has grown to more than 3.200 ETF products at the end of 2013. About one third of these ETFs are traded in the United States in markets of NYSE that is dominating, Nasdaq or BATS. In the US market there are traded ETFs in the asset value more than 1.150 billion. Despite its fast growth and significant size, there is very little research on the structure of the ETFs market. The usage of network structure helps to fully identify relation between particular ETFs. In the analysis the most important ETFs (measured with their asset value) will be analysed on the individual and the provider basis. The provider basis is chosen because the US ETFs market is concentrated and three main providers (iShares, State Street Global Advisory and Vanguard) represent more than 80 percentage of the ETFs market. The application of the graph theory contributes to particularized understanding relations between these ETFs. Network modelling of ETFs market offers a powerful tool, because it provides much view on dependences of ETFs's behaviour. (C) The Authors. Published by Elsevier B.V.
ER  -

LINNERTOVÁ, Dagmar. Network Structures of the US Market with ETFs. Online. In Iacob, AI. \textit{2ND GLOBAL CONFERENCE ON BUSINESS, ECONOMICS, MANAGEMENT AND TOURISM}. AMSTERDAM: ELSEVIER SCIENCE BV, 2015, s.~899-904. ISSN~2212-5671. Dostupné z: https://dx.doi.org/10.1016/S2212-5671(15)00496-7.

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