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Auswirkungen der Finanzmarktintegration auf Investmentfondsgebühren in der EU

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  • Lang, Gunnar

Abstract

Eine aktuelle ZEW-Studie geht der Frage nach, ob die europäische Finanzmarktintegration im Bereich der Fondsindustrie zu Vorteilen für Privatanleger und institutionelle Investoren geführt hat. Dabei werden mögliche Determinanten der Fondsgebühren und die Auswirkungen der Domizilierungsentscheidung der Fondsgesellschaft untersucht. Die Ergebnisse zeigen, dass die Integration zu positiven Wohlfahrtseffekten geführt hat, indem sie die Konzentration von Spezialisten im Cluster ermöglicht und Skaleneffekte bewirkt.

Suggested Citation

  • Lang, Gunnar, 2011. "Auswirkungen der Finanzmarktintegration auf Investmentfondsgebühren in der EU," ZEW Wachstums- und Konjunkturanalysen, ZEW - Leibniz Centre for European Economic Research, vol. 14(4), pages 10-11.
    • Handle: RePEc:zbw:zewwka:126042
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    References listed on IDEAS

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    1. Javier Gil‐Bazo & Pablo Ruiz‐Verdú, 2009. "The Relation between Price and Performance in the Mutual Fund Industry," Journal of Finance, American Finance Association, vol. 64(5), pages 2153-2183, October.
    2. Joseph Chen & Harrison Hong & Ming Huang & Jeffrey D. Kubik, 2004. "Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization," American Economic Review, American Economic Association, vol. 94(5), pages 1276-1302, December.
    3. Lang, Gunnar & Köhler, Matthias, 2011. "How does the domiciliation decision affect mutual fund fees?," ZEW Discussion Papers 11-085, ZEW - Leibniz Centre for European Economic Research.
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