Pricing efficiency of the S&P 500 index
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Quentin C. Chu; Wen-Liang Gideon Hsieh
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Article
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2002
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John Wiley and Sons
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English
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## Abstract Standard & Poor's Depositary Receipts (SPDRs) are exchange traded securities representing a portfolio of S&P 500 stocks. They allow investors to track the spot portfolio and better engage in index arbitrage. We tested the impact of the introduction of SPDRs on the efficiency of the S&P