Sherrill, D. Eli; Upton, Kate - In: Managerial Finance 44 (2018) 3, pp. 303-325
Purpose: The purpose of this paper is to study if actively managed exchange-traded funds (AMETFs) and actively managed mutual funds (AMMFs) are complements or substitutes. It also tests if there are tax or liquidity clientele effects. Design/methodology/approach: The study investigates the...