Expense Ratio as an Effect of Fund Attributes’ Impact
Annales Universitatis Mariae Curie-Skłodowska, Sectio H – Oeconomia, vol. 52, no. 4, 17-27, 2018.
Posted: 16 Apr 2019
Date Written: December 1, 2018
The aim of this paper is to examine if fund attributes such as size, age and family size influence the expense ratio. The study employs multiple regression analysis for cross-section data with the use of three methods of estimation (OLS, Fama–MacBeth and IRLS). The analysis is conducted using data from four segments of Polish mutual funds. The results confirm the existence of small economies of scale in the case of the expenses incurred in connection with the increasing assets under management.
Keywords: mutual funds, fund attributes, expense ratio, charges
JEL Classification: G11, G23, G29
Suggested Citation: Suggested Citation