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EconStor >
Goethe-Universität Frankfurt am Main >
Fachbereich Wirtschaftswissenschaften, Universität Frankfurt a. M. >
Working Paper Series: Finance and Accounting, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/39045
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Mauerer, Raimond | | en_US |
| dc.contributor.author | | Schaefer, Alexander | | en_US |
| dc.date.accessioned | | 2009-05-27 | | en_US |
| dc.date.accessioned | | 2010-08-19T12:32:21Z | | - |
| dc.date.available | | 2010-08-19T12:32:21Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/39045 | | - |
| dc.description.abstract | | In this paper, we analyze economies of scale for German mutual fund complexes. Using 2002-2005 data of 41 investment management companies, we specify a hedonic translog cost function. Applying a fixed effects regression on a one-way error component model there is clear evidence of significant overall economies of scale. On the level of individual mutual fund complexes we find significant economies of scale for all of the companies in our sample. With regard to cost efficiency, we find that the average mutual fund complexes in all size quartiles deviate considerably from the best practice cost frontier. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Univ., Fachbereich Wirtschaftswiss. Frankfurt am Main | | en_US |
| dc.relation.ispartofseries | | Working paper series // Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften Finance & accounting 201 | | en_US |
| dc.subject.jel | | G2 | | en_US |
| dc.subject.jel | | L25 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | mutual fund complex | | en_US |
| dc.subject.keyword | | cost efficiency | | en_US |
| dc.subject.keyword | | economies of scale | | en_US |
| dc.subject.keyword | | hedonic translog cost function | | en_US |
| dc.subject.keyword | | fixed effects regression | | en_US |
| dc.subject.keyword | | one-way error component model | | en_US |
| dc.subject.stw | | Investmentfonds | | en_US |
| dc.subject.stw | | Skalenertrag | | en_US |
| dc.subject.stw | | Kostenfunktion | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Deutschland | | en_US |
| dc.title | | Does size matter? Economies of scale in the German mutual fund industry | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 600483150 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.
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