8 Pages Posted: 21 Jun 2017
Date Written: June 20, 2017
In a stock market dominated by passive investors, an interesting question arises as to how the equilibrium level of market efficiency will be maintained. This short article argues that the critical agents in this regard must be the companies that issue the shares, not active investment managers.
Keywords: Passive Investing Market Efficiency
JEL Classification: G1, G14
Suggested Citation: Suggested Citation
Cornell, Bradford, Passive Investing and Market Efficiency (June 20, 2017). Available at SSRN: https://ssrn.com/abstract=2989692