Raddatz, Claudio; Schmukler, Sergio L.; Williams, Tomas - Hong Kong Institute for Monetary Research (HKIMR), … - 2015
We study different channels through which well-known benchmark indexes impact asset allocations, capital flows, and … asset prices across countries, using unique monthly micro-level data of benchmark compositions and mutual fund investments … portfolios, including both passive and active funds. Benchmark effects are important after controlling for industry …