Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72468
Authors: 
Lang, Gunnar
Schäfer, Henry
Year of Publication: 
2013
Series/Report no.: 
ZEW Discussion Paper 13-022
Abstract: 
Specific industry factors determining cross-border business set-up in the European mutual fund industry are analyzed to contribute to the understanding of production specificities in the financial industry. The findings indicate that the decision on where to domicile a fund is not primarily driven by traditional cost factors, such as registration charges and labor costs. Network conditions with respect to the knowledge-based production process of mutual funds and the interaction with regulating authorities such as the approval process embedded in the legal framework and the quality of the workforce in a dense specialized cluster matter most. Differences in such network conditions may allow fund companies to set up more innovative and complex funds in a shorter period of time in one country than in other countries. The findings highlight also that the practitioners agree on such network determinants as being most important.
Subjects: 
Mutual Funds
Business Location Decision
Financial Regulation
Networks in Capital Markets
JEL: 
D22
F36
G15
G28
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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