Motivations behind the Acquisition of Mutual Funds
Xiyu (Thomas) Zhou
University of Alaska Fairbanks - School of Management (SOM)
Kevin C.H. Chiang
University of Alaska Fairbanks - School of Management (SOM); Louisiana State University, Baton Rouge - Department of Finance
This paper studies the motivations behind mutual fund acquisitions. Results indicate that, consistent with the existing corporate mergers and acquisitions literature, a desire to seek synergy in the form of cost reduction in distribution and internal operation drives mutual fund acquisitions. In addition, acquisitions are partly driven by a desire to acquire managerial talent and a respectful performance record.
Number of Pages in PDF File: 21
Keywords: mutual fund, acquisition, synergy
JEL Classification: G2, G23
Date posted: March 31, 2006
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