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Miguel, A., A. Keswani & Ramos, S. (2017). Mutual Fund Size versus Fees: When big boys become bad boys. European Financial Management Association (EFMA).
A. M. Miguel et al., "Mutual Fund Size versus Fees: When big boys become bad boys", in European Financial Management Association (EFMA), Athens, 2017
@misc{miguel2017_1732207404597, author = "Miguel, A. and A. Keswani and Ramos, S.", title = "Mutual Fund Size versus Fees: When big boys become bad boys", year = "2017", howpublished = "Ambos (impresso e digital)", url = "http://www.efmaefm.org/0EFMAMEETINGS/EFMA%20ANNUAL%20MEETINGS/2017-Athens/2017%20meetings.php" }
TY - CPAPER TI - Mutual Fund Size versus Fees: When big boys become bad boys T2 - European Financial Management Association (EFMA) AU - Miguel, A. AU - A. Keswani AU - Ramos, S. PY - 2017 CY - Athens UR - http://www.efmaefm.org/0EFMAMEETINGS/EFMA%20ANNUAL%20MEETINGS/2017-Athens/2017%20meetings.php AB - In this paper, we use a comprehensive dataset of equity mutual funds covering 30 countries to study the effects of mutual fund size on fund fees. We show that the level of fees vary substantially for funds with different assets under management not only across countries, confirming the results in Khorana, Servaes, and Tufano (2008), but also within countries. We also show that competition in the fund management industry explain these differences. In countries with more competitive fund industries, fees decline as funds get larger while, in countries where there is less competition in the fund industry, fund size increases fees. This is because investors are not flow-fee sensitive to larger funds in countries where mutual funds face little competition. ER -