study credit rating, internal control vulnerability, presence of outside auditors and return on equity are selected major …

to maximize their own interest than investors' return. And such a tendency has been strengthened since 2008. ii) young … funds overperform old funds, iii) funds with high returns in the previous quarter perform better than funds with low return …

of funds, and between brokerage commission and return on funds, using the data on equity funds of Korea from June 2008 to …. Meanwhile, the analysis on the relationship between brokerage commission and return on funds reveals that higher brokerage … commissions lead to lower return on funds, meaning at least in short-term no contribution to increasing returns in the future …