2020
DOI: 10.1016/j.jfineco.2019.08.009
|View full text |Cite
|
Sign up to set email alerts
|

Is the active fund management industry concentrated enough?

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
3
1
1

Citation Types

0
3
0
2

Year Published

2021
2021
2024
2024

Publication Types

Select...
7
1

Relationship

0
8

Authors

Journals

citations
Cited by 24 publications
(5 citation statements)
references
References 45 publications
0
3
0
2
Order By: Relevance
“…Como medida de concentração/concorrência da indústria, foi usado o índice de Herfindahl-Hirschman (IHH), semelhantemente ao usado por outros autores (Feldman et al, 2020;Ferreira et al, 2019;Parida & Tang, 2017). O cálculo do índice está evidenciado na Tabela 1.…”
Section: Estimação Da Medida De Concentração Da Indústriaunclassified
See 1 more Smart Citation
“…Como medida de concentração/concorrência da indústria, foi usado o índice de Herfindahl-Hirschman (IHH), semelhantemente ao usado por outros autores (Feldman et al, 2020;Ferreira et al, 2019;Parida & Tang, 2017). O cálculo do índice está evidenciado na Tabela 1.…”
Section: Estimação Da Medida De Concentração Da Indústriaunclassified
“…Além disso, dado o elevado grau de concentração dentro da indústria de fundos de investimento no Brasil, a concorrência mostra-se uma variável importante a ser estudada aqui. Existem vários estudos que investigaram o papel da concorrência no mercado de fundos mútuos (Feldman et al, 2020;Ferreira et al, 2019;Hoberg et al, 2018;Leippold & Rueegg, 2020;Parida & Tang, 2017), mas poucos analisaram o papel da concorrência na determinação das taxas (Parida & Tang, 2017), em especial no Brasil. Semelhantemente, este artigo também almeja enriquecer as discussões a respeito do sentimento do investidor, principalmente quanto ao seu papel sobre a determinação das taxas pelos fundos.…”
Section: Introductionunclassified
“…As a measure of industry concentration/competition, the Herfindahl-Hirschman index (HHI) was used, similarly to that used by other authors (Feldman et al, 2020;Ferreira et al, 2019;Parida & Tang, 2017). The calculation of the index is shown in Table 1.…”
Section: Estimation Of Industry Concentration Measurementioning
confidence: 99%
“…Furthermore, given the high degree of concentration within the investment fund industry in Brazil, competition is an important variable to be studied herein. Several studies have investigated the role of competition in the mutual fund market (Feldman et al, 2020;Ferreira et al, 2019;Hoberg et al, 2018;Leippold & Rueegg, 2020;Parida & Tang, 2017), but few have analyzed the role of competition in determining fees (Parida & Tang, 2017), especially in Brazil. Similarly, this article also aims to enrich the discussions on investor sentiment, mainly regarding its role in the determination of fees by funds.…”
Section: Introductionmentioning
confidence: 99%
“…The debate over the relative advantages of active and passive fund management has long been a hot topic in the asset management industry. The generally high costs of active management and the increasing pressure from lower-cost passively managed funds have heated this debate even further (Feldman et al, 2020;Malkiel, 2013). One of the key questions about actively managed mutual funds is whether they deliver positive, zero or negative riskadjusted abnormal returns.…”
Section: Introductionmentioning
confidence: 99%