IDEAS home Printed from https://ideas.repec.org/a/mes/emfitr/v50y2014i6p41-55.html
   My bibliography  Save this article

Vertical Relations and Procompetitive Policy Effects in the Fund Industry: Evidence from Korea

Author

Listed:
  • Kang Baek
  • Young S. Park

Abstract

This study indicates, through the first two moments (mean and variance) of distribution fees and market shares, that competition in Korea’s equity fund industry has intensified since the enforcement of procompetitive policies. However, the results demonstrate that the policy effects are impeded by vertical relations among financial companies. Therefore, along with horizontal anticompetitive behaviors, fund distributors’ excessive sales concentration in the affiliated funds needs to be controlled to heighten the policy effects under oligopolistic market structures. This regulation can strengthen investor protection and promote the growth of the fund industry in an emerging financial market.

Suggested Citation

  • Kang Baek & Young S. Park, 2014. "Vertical Relations and Procompetitive Policy Effects in the Fund Industry: Evidence from Korea," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(6), pages 41-55, November.
    • Handle: RePEc:mes:emfitr:v:50:y:2014:i:6:p:41-55
    DOI: 10.1080/1540496X.2014.1013872
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1540496X.2014.1013872
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1540496X.2014.1013872?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:emfitr:v:50:y:2014:i:6:p:41-55. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MREE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.