Krahnen, Jan Pieter; Schmid, Frank A.; Theissen, Erik - Center for Financial Studies - 2006
We study a set of German open-end mutual funds for a time period during which this industry emerged from its infancy …. In those years, the distribution channel for mutual funds was dominated by the brick-and-mortar retail networks of the … differences across mutual funds affect their market shares. Although such a causal relation has been established in highly …