Dukes, William P.; English, Philip C.; Davis, Sean M. - In: Journal of Financial Research 29 (2006) 2, pp. 235-252
The Securities and Exchange Commission is currently reviewing Rule 12b-1, which governs how fund advisors may pay for the distribution of fund shares. We provide evidence that even after adjusting for economies of scale, funds with 12b-1 fees have higher expense ratios net of the 12b-1 fees than...