Using a unique and extensive dataset of 121 socially responsible investing (SRI) equity
exchange-traded funds (ETFs) from January 2010 to December 2020, this study examines …

In geodetics, a benchmark is a plaque embedded in rock or soil to show the precise latitude,
longitude, and altitude of a given location. That the term “benchmark” has been extended, as …

As the application of modern portfolio theory has evolved within an equities market
increasingly focused on passively managed portfolios, tracking error (ie performance …

Many option pricing models imply that the price of a call option is a monotonically increasing
function of the value of its underlying asset, and the price of a put option is a monotonically …

The two investment strategies, active and passive (index) investing, are evaluated by
comparing the average performance of actively managed funds in the general equity …

In this paper, we strove to provide evidence about the alleged structural changes in the US
equity markets that have dramatically reduced the potential for stock picking strategies to …

This multi-faceted analysis of institutional investment defines fiduciary finance institutions as
the third pillar of the financial system, alongside banks and insurers. It documents the role …

The recent rapid growth of passive investment instruments in the fixed-income market raises
the question of their relative outperformance compared to corresponding active investment …

Modern portfolio theory commenced the ensuing debate regarding the benefits of active
versus passive management in regards to mutual funds. The two opposing mutual fund …

Abstract Modern Portfolio Theory explores how risk-averse investors construct portfolios to
optimize expected returns against market risk and quantifies the benefits of diversification …