Please use this identifier to cite or link to this item:
https://hdl.handle.net/10419/39045
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Mauerer, Raimond | en |
dc.contributor.author | Schaefer, Alexander | en |
dc.date.accessioned | 2009-05-27 | - |
dc.date.accessioned | 2010-08-19T12:32:21Z | - |
dc.date.available | 2010-08-19T12:32:21Z | - |
dc.date.issued | 2009 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aJohann Wolfgang Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften |cFrankfurt a. M. | en |
dc.relation.ispartofseries | |aWorking Paper Series: Finance & Accounting |x201 | en |
dc.subject.jel | G2 | en |
dc.subject.jel | L25 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | mutual fund complex | en |
dc.subject.keyword | cost efficiency | en |
dc.subject.keyword | economies of scale | en |
dc.subject.keyword | hedonic translog cost function | en |
dc.subject.keyword | fixed effects regression | en |
dc.subject.keyword | one-way error component model | en |
dc.subject.stw | Investmentfonds | en |
dc.subject.stw | Skalenertrag | en |
dc.subject.stw | Kostenfunktion | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Deutschland | en |
dc.title | Does size matter? Economies of scale in the German mutual fund industry | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 600483150 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
Files in This Item:
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.