Gains to mutual fund sponsors offering multiple share class funds

Journal of Financial Research

Volumn 25, Issue 1, 2002, Pages 81-98

  Lesseig, Vance P ^c   Long, D Michael ^a   Smythe, Thomas I ^b  

^a UNIVERSITY OF TENNESSEE AT CHATTANOOGA   (United States)

^b FURMAN UNIVERSITY   (United States)

^c NONE

Author keywords

JEL Classifications: G18, G20, G23

Indexed keywords

EID: 24144462461     PISSN: 02702592     EISSN: 14756803     Source Type: Journal    
DOI: 10.1111/1475-6803.00005     Document Type: Article

References (19)

1. Alexander, G. J., J. D. Jones, and P. J. Nigro, 1998, Mutual fund shareholders: Characteristics, investor knowledge, and sources of information, Financial Services Review 7, 301–16.DOI: 10.1016/S1057-0810(99)00023-2
2. Brickley, J. A., J. L. Coles, and R. L. Terry, 1994, Outside directors and the adoption of poison pills, Journal of Financial Economics 35, 371–90.
3. Capon, N., G. J. Fitzsimmons, and R. A. Prince, 1996, An individual level analysis of the mutual fund investment decision, Journal of Financial Services Research 10, 59–82.
4. Carhart, M. M., 1997, On persistence in mutual fund performance, Journal of Finance 52, 56–82.
5. Chance, D. M. and S. P. Ferris, 1991, Mutual fund distribution fees: An empirical analysis of the impact of deregulation, Journal of Financial Services Research 5, 25–42.
6. Dellva, W. L. and G. T. Olson, 1998, The relationship between mutual fund fees and expenses and their effect on performance, Financial Review 33, 85–104.
7. Ferris, S. P. and D. M. Chance, 1987, The effect of 12b-1 plans on mutual fund expense ratios: A note, Journal of Finance 42, 1077–82.
8. Investment Company Institute, 1998, Mutual Fund Factbook (Investment Company Institute).
9. Kennedy, P., 1993, A Guide to Econometrics (3d ed.) (MIT Press, Cambridge, MA).
10. Koch, T. W. and T. I. Smythe, 1999, Mutual fund expenses and multiple share class funds, Working paper, University of South Carolina.
11. Livingston, M. and E. S. O'Neal, 1998, The cost of mutual fund distribution fees, Journal of Financial Research 21, 205–18.
12. Malhotra, D. K. and R. W. McLeod, 1997, An empirical analysis of mutual fund expenses, Journal of Financial Research 20, 175–90.
13. Malkiel, B. G., 1995, Returns from investing in equity mutual funds 1971 to 1991, Journal of Finance 50, 549–72.
14. McLeod, R. W. and D. K. Malhotra, 1994, A re-examination of the effect of 12b-1 plans on mutual fund expense ratios, Journal of Financial Research 17, 231–40.
15. O'Neal, E. S., 1997, Mutual fund structures and adverse dealer incentives, Working paper.
16. Smythe, T. I., 1999, Multiple share class funds: Efficiency or exploitation, Unpublished Ph.D. dissertation, University of South Carolina.
17. Tufano, P. and M. Sevick, 1997, Board structure and fee-setting in the U.S. mutual fund industry, Journal of Financial Economics 46, 321–55.
18. White, H., 1980, A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity, Econometrica 48, 817–38.
19. Yermack, D., 1996, Higher market valuation of companies with a small board of directors, Journal of Financial Economics 40, 185–211.DOI: 10.1016/0304-405X(95)00844-5