What drives mutual fund asset concentration?
Is the large influence that mutual funds assert on the U.S. financial system spread across many funds, or is it is concentrated in only a few? We argue that the dominant economic factor that determines this is market efficiency, which dictates that fund performance is size independent and fund growt...
| Үндсэн зохиолчид: | , |
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| Формат: | Journal article |
| Хэвлэсэн: |
2008
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