NBFIs offer a broad range of investment and funding opportunities; as such, they are a
healthy source of diversity in external financing. They cover areas that banks do not, they …

We document aggregate outflows from corporate bond mutual funds days before and after
the announcement of increases in the Federal Funds Target rate (FFTar). To rationalize this …

We investigate the introduction effect of ProShares bitcoin strategy ETF (BITO) on investor
structure and market quality in Chicago Mercantile Exchange bitcoin futures. We find that the …

We provide novel evidence that arbitrageurs use exchange-traded funds (ETFs) as an
avenue to circumvent short-sale constraints at the stock level. Using a large sample of US …

The structure of market making in government bond markets has shifted from a bank-centric
model to a hybrid one in which non-bank financial institutions, notably principal trading firms …

We analyze the relation between ETF ownership and firm-specific information in corporate
bond returns. ETF ownership appears to weaken bond price informativeness by altering the …

The primary market of many US registered ETFs exhibits an oligopolistic structure, which is
shown to have relevant implications for the pricing efficiency of those financial products. I …

I examine corporate bond market liquidity from 2004 to 2019 through the lens of the liquidity
premium. I document that while commonly-used transaction cost measures such as the bid …

We investigate the introduction effect of ProShares bitcoin strategy ETF (BITO) on investor
structure and market quality in Chicago Mercantile Exchange bitcoin futures. We find that the …

This article examines ETF creations and redemptions around price deviations and finds that
the expected arbitrage trades are relatively rare in a broad sample of equity index ETFs. In …