This study uses a sample of 72 passively managed equity exchange-traded funds (ETFs) from the Chinese A-share market to examine the size and time-varying characteristics of their tracking errors, identify their determinants, and gain insight into the persistent and positive excess returns of...

In this paper, we investigate the impact of vertical product differentiation on exchange rate pass-through (ERPT). We define product vertical differentiation as a spectrum of products that range from high end to low end. Using a comprehensive dataset that includes highly disaggregated products...