Mutual Fund Trading Costs and Diseconomies of Scale

Larger mutual funds underperform smaller funds even though they have lower percentage transaction costs. Larger funds hold and trade a larger fraction of bigger, more liquid stocks, which leads to lower percentage transaction costs than smaller funds. Smaller funds outperform larger funds primarily...

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Bibliographic Details
Main Authors: Busse, Jeffrey, Chordia, Tarun, JIANG, Lei, TANG, Yuehua
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2017
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/4536
https://ink.library.smu.edu.sg/context/lkcsb_research/article/5535/viewcontent/SSRN_id2350583.pdf
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Institution: Singapore Management University
Language: English
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