five

Marketing Mutual Funds

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NBER2018-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w25056
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Marketing and distribution expenses are responsible for about a third of the cost of active management in the mutual fund industry. We develop and estimate a structural model of mutual fund marketing with learning about unobserved skill and costly investor search. Our estimates suggest that
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2018-09-01
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