Index Providers in the Global Financial Market

Authors

  • Tomasz Miziołek University of Łódź, Faculty of Economics and Sociology, Department of Finance and International Investments

DOI:

https://doi.org/10.18778/0208-6018.335.10

Keywords:

financial indexes, index providers, international financial market

Abstract

Index providers are important participants of the contemporary global financial market. This group comprises of diverse entities – e.g. stock exchanges, financial institutions (particularly banks and asset management companies), analytical and research companies as well as financial data providers. The role of index providers increases primarily along with systematically growing importance of index investment instruments. Their decisions significantly affect the allocation of capital, mainly on a microeconomic and macroeconomic scale.

Downloads

Download data is not yet available.

References

Arslanalp S., Tsuda T. (2015), Emerging‑Market Portfolio Flows: The Role of Benchmark‑Driven Investors, IMF Working Paper, WP/15/263.
Google Scholar

Authers J. (2015), Investing: The index factor, “Financial Times”, August 16, https://www.ft.com/content/40bb7c10–419f–11e5–9abe–5b335da3a90e#axzz4HR9UpTr2 [accessed: 3.03.2017].
Google Scholar

Broby D. (2007), A Guide to Equity Index Construction, Risk Books, London.
Google Scholar

Chan K., Kot H.W., Tang G.Y.N. (2013), A comprehensive long‑term analysis of S&P 500 index additions and deletions, “Journal of Banking and Finance”, vol. 37, issue 12, pp. 4920–4930.
Google Scholar

Chen H., Noronha G., Singal V. (2004), The Price Response to S&P 500 Index Additions and Deletions: Evidence of Asymmetry and a New Explanation, “The Journal of Finance”, vol. LIX, no. 4, pp. 1901–1930.
Google Scholar

Davis C. (2017), Why hasn’t indexing taken root in Canada? Big banks, incentives, and backward self‑regulation are to blame, “Manager Research Observer”, January 2017, pp. 26–30, http://video.morningstar.com/ca/MstarObserver17Q1.pdf?utm_source=tr.im&utm_medium=no_referer&utm_campaign=tr.im%2F1mqZF&utm_content=direct_input [accessed: 4.03.2017].
Google Scholar

Dunham L.M., Simpson T.H. (2010), Do Index Fund Managers Trade Opportunistically Around Index Changes? An Empirical Examination of S&P Index Funds, “The Journal of Index Investing”, vol. 1, no. 3, pp. 58–64.
Google Scholar

https://us.spindices.com/ [accessed: 4.03.2017].
Google Scholar

https://www.bats.com/europe/equities/ [accessed: 3.03.2017].
Google Scholar

http://www.etfgi.com/ [accessed: 4.03.2017].
Google Scholar

http://www.ftserussell.com/ [accessed: 4.03.2017].
Google Scholar

http://www.icbenchmark.com/ [accessed: 7.03.2017].
Google Scholar

http://www.indexindustry.org/ [accessed: 4.03.2017].
Google Scholar

http://www.morningstar.com/ [accessed: 3.03.2017].
Google Scholar

https://www.msci.com/ [accessed: 4.03.2017].
Google Scholar

http://www.theinvestmentassociation.org/ [accessed: 7.03.2017].
Google Scholar

https://www.stoxx.com/ [accessed: 4.03.2017]
Google Scholar

Makepeace M. (2016), 2016 Trends: Global Index Providers Play Important Role in World Markets, http://www.ftserussell.com/blog/2016‑trends‑global‑index‑providers‑play‑important‑role‑world‑markets [accessed: 6.03.2017].
Google Scholar

Miziołek T. (2014), Samoindeksowanie na rynku finansowym, “Studia Ekonomiczne. Zeszyty Naukowe Uniwersytetu Ekonomicznego w Katowicach”, no. 186, pp. 278–286.
Google Scholar

Novick B., Goldstein R., Evans P., Perlowski J., Clement M., Rosenblum A. (2016), The role of third party vendors in asset management, BlackRock, London.
Google Scholar

Raddatz C., Schmukler S.C., Williams T. (2014), International Asset Allocations and Capital Flows. The Benchmark Effect, World Bank, Policy Research Working Paper 6866.
Google Scholar

Schilling H. (1996), The International Guide to Securities Market Indices, International Publishing and Fitzroy Deaborn Publishers, Chicago.
Google Scholar

Verstein A. (2013), Index Theory: The Law, Promise, And Failure of Financial Indices, Lecturer and Other Affiliate Scholarship Series, Paper 7, Yale Law School.
Google Scholar

Downloads

Published

2018-05-16

How to Cite

Miziołek, T. (2018). Index Providers in the Global Financial Market. Acta Universitatis Lodziensis. Folia Oeconomica, 3(335), 139–152. https://doi.org/10.18778/0208-6018.335.10

Issue

Section

Articles