Agency Costs, Governance, and Organizational Forms: Evidence from the Mutual Fund Industry

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CFA Digest
November 2009 | Vol. 39 | No. 4 | 3 pages
Source: CFA Institute
Stephen P. Ferris Xuemin (Sterling) Yan
Georgeann Portokalis, CFA (Reviewer)

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Abstract

The authors study whether the form of an organization in the mutual fund industry affects agency costs. They also study the extent of the effect. They find evidence that agency costs are higher for mutual fund shareholders if the fund company is publicly owned rather than privately held.

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Topics
Corporate Finance
    :
  • Corporate Governance
|
Leadership, Management, and Communication Skills
    :
  • Firm Management
|
Portfolio Management
    :
  • Mutual Funds, Pooled Funds, and Exchange-Traded Funds (ETFs)
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