IDEAS home Printed from https://ideas.repec.org/a/url/izvest/v19y2018i6p89-100.html
   My bibliography  Save this article

Prospects of Exchange-Traded Funds’ Development in Russia

Author

Listed:
  • Vasiliy A. Tatyannikov

    (Ural State University of Economics)

Abstract

Collective investment has been a world trend for decades, though in Russia only some of its technologies became widespread, namely mutual and joint-stock funds, whereas exchange-traded funds did not gain much traction. The paper analyses exchange-traded funds as an open and accessible for most unqualified investors technology of collective investment. Theoretical and methodological basis of the research includes classical and modern approaches in the field of investment analysis and effi? ciency of stock markets. The methods of the study are comparative and system analysis, deduction and induction, statistical analysis. Having studied the evolution of the exchange-traded funds in the world practice and dynamics of their assets for the last fifteen years, the author directed particular attention to their development in the Russian stock market and compared their revenues and net asset value. As a result, the author assesses the competiveness of this technology of collective investment in contrast to its classical types. Transparency of exchange-traded funds confirms equal access to and openness of the information to all groups of investors. The author argues that investment in exchange-traded funds is a reasonable suggestion in terms of supporting national economic growth and it is necessary to introduce amendments in the legislation of the Russian Federation connected with the specifics of exchange-traded funds.

Suggested Citation

  • Vasiliy A. Tatyannikov, 2018. "Prospects of Exchange-Traded Funds’ Development in Russia," Journal of New Economy, Ural State University of Economics, vol. 19(6), pages 89-100, December.
    • Handle: RePEc:url:izvest:v:19:y:2018:i:6:p:89-100
    DOI: 10.29141/2073-1019-2018-19-6-7
    as

    Download full text from publisher

    File URL: http://izvestia.usue.ru/images/download/80/7.pdf
    Download Restriction: no
    File URL: http://izvestia.usue.ru/en/-2018/778
    Download Restriction: no
    File URL: https://libkey.io/10.29141/2073-1019-2018-19-6-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Madhavan, Ananth N., 2016. "Exchange-Traded Funds and the New Dynamics of Investing," OUP Catalogue, Oxford University Press, number 9780190279394, Decembrie.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lu, Chia-Wu & Wu, Hsueh-Ling & Su, Yu-Hsuan, 2024. "The icing on the cake: ESG effect on the quality factor portfolios," Finance Research Letters, Elsevier, vol. 70(C).
    2. Lawrence Glosten & Suresh Nallareddy & Yuan Zou, 2021. "ETF Activity and Informational Efficiency of Underlying Securities," Management Science, INFORMS, vol. 67(1), pages 22-47, January.
    3. Hua Wang & Liao Xu, 2019. "Do exchange‐traded fund flows increase the volatility of the underlying index? Evidence from the emerging market in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(5), pages 1525-1548, March.
    4. Czereszenko, Witalij, 2021. "Pursuing the aim of Exchange Traded Funds at the time of Covid-19," MPRA Paper 111319, University Library of Munich, Germany.
    5. Kroencke, Tim A. & Schmeling, Maik & Schrimpf, Andreas, 2021. "The FOMC Risk Shift," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 21-39.
    6. Itzhak Ben-David & Francesco A. Franzoni & Rabih Moussawi, 2016. "Exchange Traded Funds (ETFs)," Swiss Finance Institute Research Paper Series 16-64, Swiss Finance Institute.
    7. Gemayel, Roland & Franus, Tatiana & Bowden, James, 2023. "Price discovery between Bitcoin spot markets and exchange traded products," Economics Letters, Elsevier, vol. 228(C).
    8. Haohang Li & Yupeng Cao & Yangyang Yu & Shashidhar Reddy Javaji & Zhiyang Deng & Yueru He & Yuechen Jiang & Zining Zhu & Koduvayur Subbalakshmi & Guojun Xiong & Jimin Huang & Lingfei Qian & Xueqing Pe, 2024. "INVESTORBENCH: A Benchmark for Financial Decision-Making Tasks with LLM-based Agent," Papers 2412.18174, arXiv.org.
    9. Fos, Vyacheslav & Chinco, Alex, 2019. "The Sound Of Many Funds Rebalancing," CEPR Discussion Papers 13561, C.E.P.R. Discussion Papers.
    10. Martin Lettau & Ananth Madhavan, 2018. "Exchange-Traded Funds 101 for Economists," Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 135-154, Winter.
    11. Immo Stadtmüller & Benjamin R. Auer & Frank Schuhmacher, 2024. "Core-satellite investing with commodity futures momentum," Journal of Asset Management, Palgrave Macmillan, vol. 25(3), pages 261-287, May.
    12. Pan, Kevin & Zeng, Yao, 2017. "ETF arbitrage under liquidity mismatch," ESRB Working Paper Series 59, European Systemic Risk Board.
    13. Chinco, Alex & Sammon, Marco, 2024. "The passive ownership share is double what you think it is," Journal of Financial Economics, Elsevier, vol. 157(C).
    14. Chaiyuth Padungsaksawasdi & Ali Parhizgari, 2017. "Major Currency ETFs and Their Associated Spot and Futures Rates," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(04), pages 1-32, December.
    15. Adam Marszk & Ewa Lechman, 2020. "Application of Diffusion Models in the Analysis of Financial Markets: Evidence on Exchange Traded Funds in Europe," Risks, MDPI, vol. 8(1), pages 1-23, February.
    16. Fabrice Riva & Thomas Marta, 2022. "Do ETFs increase the comovements of their underlying assets? Evidence from a switch in ETF replication technique," Post-Print hal-03969597, HAL.
    17. Dekker, Lennart, 2024. "Essays on asset liquidity and investment funds," Other publications TiSEM 5fc9bf77-84e7-4a36-9e3a-1, Tilburg University, School of Economics and Management.
    18. D’Hondt, Catherine & McGowan, Richard & Roger, Patrick, 2021. "Trading leveraged Exchange-Traded products is hazardous to your wealth," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 287-302.
    19. Samuel J. Hempel & Dasol Kim & Russ Wermers, 2022. "Financial Intermediary Funding Constraints and Segmented Markets," Working Papers 22-01, Office of Financial Research, US Department of the Treasury.
    20. Elton, Edwin J. & Gruber, Martin J. & de Souza, Andre, 2019. "Passive mutual funds and ETFs: Performance and comparison," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 265-275.

    More about this item

    Keywords

    evolution of exchange-traded funds; underlying; fund portfolio; investor; rebalancing.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:url:izvest:v:19:y:2018:i:6:p:89-100. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Blaginin (email available below). General contact details of provider: https://edirc.repec.org/data/usueeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.