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Masters Thesis | Finance | China | Volume 10 Issue 3, March 2021

The Influence of Fund Management Company Characteristics on ETF Performance

Lixiaoqian

Abstract: Due to the continuous increase in the number and types of funds, the choices of investors are also diversified. Index funds have gained popularity as star market products. Investors are favored, for investors, the performance of ETFs is their first concern. Based on this, this article elaborates on the impact of the characteristics of the fund management company where the ETF is located on its performance. Based on the panel data of ETFs that have been established for more than three years from 2016 to 2020 as a sample to study the impact of the characteristics of the fund management company. The results show there is no correlation between equity concentration of fund management companies and ETF performance. Equity checks and balances are negatively correlated with performance, and the proportion of foreign shareholding is significantly positively correlated with ETF performance; the size of the board of directors, the size of the board of supervisors, and the proportion of independent directors are all related to the ETF. Performance is significantly negatively correlated; the registered capital of fund companies is positively correlated with ETF performance, the number of funds held by fund management companies is positively correlated with ETF performance.

Keywords: ETF performance, fund management company characteristics, correlation,

Edition: Volume 10 Issue 3, March 2021,

Pages: 296 - 300