Adams, John C.; Mansi, Sattar A.; Nishikawa, Takeshi - In: Journal of Banking & Finance 36 (2012) 8, pp. 2245-2259
There is a long running debate over whether competition in the mutual fund industry limits the ability of investment advisors to charge fees that are disproportionate to the services they provide. We posit that disproportionately high fees are prevalent in funds with multiple share classes and...