We investigate the return and volatility spillovers between a Fintech ETF and the ETFs of the traditional financial industry with an empirical network model. We find that the traditional financial ETFs are still the main givers, and the Fintech ETF is the net receiver. The Fintech ETF does not...

This study investigates equity liquidity variation with a funding constraint across 38 countries and examines whether the effectiveness of a country’s legal institutions is systematically related to cross-country differences in fragile equity liquidity. Our results show that firms from...