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dc.contributor.authorMauerer, Raimonden_US
dc.contributor.authorSchaefer, Alexanderen_US
dc.date.accessioned2009-05-27en_US
dc.date.accessioned2010-08-19T12:32:21Z-
dc.date.available2010-08-19T12:32:21Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/39045-
dc.description.abstractIn 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.isoengen_US
dc.publisherUniv., Fachbereich Wirtschaftswiss. Frankfurt am Mainen_US
dc.relation.ispartofseriesWorking paper series // Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften Finance & accounting 201en_US
dc.subject.jelG2en_US
dc.subject.jelL25en_US
dc.subject.ddc330en_US
dc.subject.keywordmutual fund complexen_US
dc.subject.keywordcost efficiencyen_US
dc.subject.keywordeconomies of scaleen_US
dc.subject.keywordhedonic translog cost functionen_US
dc.subject.keywordfixed effects regressionen_US
dc.subject.keywordone-way error component modelen_US
dc.subject.stwInvestmentfondsen_US
dc.subject.stwSkalenertragen_US
dc.subject.stwKostenfunktionen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleDoes size matter? Economies of scale in the German mutual fund industryen_US
dc.typeWorking Paperen_US
dc.identifier.ppn600483150en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.

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