Replication data for: The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market
Principal Investigator(s): View help for Principal Investigator(s) Santosh Anagol; Hugh Hoikwang Kim
Version: View help for Version V1
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LICENSE.txt | text/plain | 14.6 KB | 12/06/2019 10:59:AM |
Project Citation:
Anagol, Santosh, and Kim, Hugh Hoikwang. Replication data for: The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116102V1
Project Description
Summary:
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We study a natural experiment in the Indian mutual funds sector that created a 22-month period in which closed-end funds were allowed to charge an arguably shrouded fee, whereas open-end funds were forced to charge entry loads. Forty-five new closed-end funds were started during this period, collecting $7.6 billion US, whereas only two closed-end funds were started in the 66 months prior to this period, collecting $42 billion US, and no closed-end funds were started in the 20 months after this period. We estimate that investors lost and fund firms gained approximately $350 million US due to this shrouding. (JEL D14, G23, G28, O16)
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
G23 Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
G28 Financial Institutions and Services: Government Policy and Regulation
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
D14 Household Saving; Personal Finance
G23 Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
G28 Financial Institutions and Services: Government Policy and Regulation
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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