The Factors Affecting Distribution of Fund Fees between Managing Firms and Selling Channels (in Korean)

Sejin Min () and Kyoungwon Rhee ()
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Sejin Min: Dongguk University
Kyoungwon Rhee: Dongguk University

Economic Analysis (Quarterly), 2010, vol. 16, issue 1, 71-105

Abstract: The fees that the investors pay are shared between managing companies and selling channels. In Korea, a share for the latter is in general larger than that for the former. This article shows that this stylized fact can depends on their bargaining powers, and empirically points out the factors generating the current fact. The article finds that exclusive dealing is used for the selling channel to make its share larger. More interestingly, contrary to common conjecture, it argues that even with bigger networks, banks cannot have larger share than securities companies.

Keywords: Fund fees and loads; Nash bargaining; Fund managing company; Selling channel (search for similar items in EconPapers)
JEL-codes: G29 L20 L23 (search for similar items in EconPapers)
Date: 2010
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