A Re-examination of the Effect of 12B-1 Plans on Mutual Fund Expense Ratios
AbstractIn this paper we re-examine the effect of 12b-1 payments on mutual fund expense ratios by analyzing data from 1988 through 1991. The findings are consistent with previous studies that find charges are a dead-weight cost borne by shareholders. However, we show that this cost increases over time.
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Bibliographic InfoArticle provided by Southern Finance Association & Southwestern Finance Association in its journal Journal of Financial Research.
Volume (Year): 17 (1994)
Issue (Month): 2 (Summer)
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- John Banko & Scott Beyer & Richard Dowen, 2010. "Economies of scope and scale in the mutual-fund industry," Managerial Finance, Emerald Group Publishing, vol. 36(4), pages 322-336, April.
- Nicolaj Siggelkow, 1999. "Expense Shifting: An Empirical Study of Agency Costs in the Mutual Fund Industry," Center for Financial Institutions Working Papers 99-09, Wharton School Center for Financial Institutions, University of Pennsylvania.
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