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Transaction Costs and Asset Management

In: Global Asset Management

Author

Listed:
  • Yakov Amihud

    (New York University)

  • Haim Mendelson

    (Stanford Business School)

Abstract

Asset management firms engage in three major types of activities: the core activity of making and implementing investment decisions, client acquisition, and development and support efforts that facilitate and enable the other two activities. Transaction costs link all three activities. As we show in this chapter, the judicious management of transaction costs creates opportunities to increase investment returns, improve profitability and better target investor clienteles.

Suggested Citation

  • Yakov Amihud & Haim Mendelson, 2013. "Transaction Costs and Asset Management," Palgrave Macmillan Books, in: Michael Pinedo & Ingo Walter (ed.), Global Asset Management, chapter 22, pages 414-432, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-32887-8_22
    DOI: 10.1057/9781137328878_22
    as

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    Citations

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    Cited by:

    1. Michael J. O'Neill & Geoffrey J. Warren, 2019. "Evaluating fund capacity: issues and methods," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(S1), pages 773-800, April.
    2. Marek KociƱski, 2014. "Transaction Costs And Market Impact In Investment Management," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 10(4), pages 28-35, May.

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