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...
| Main Authors: | , |
|---|---|
| 格式: | Journal article |
| 出版: |
2008
|