Mutual Fund Competition and Stock Market Liquidity

Preprint OPEN
Massa, Massimo;
  • Subject: financial intermediation; mutual funds; stock liquidity
    • jel: jel:G11 | jel:G12 | jel:G14

We study how competition in the mutual fund industry affects stock market liquidity. We argue that mutual fund families operate as multi-product firms, jointly choosing fees, performance and number of funds and sharing common research facilities. The family-based organi... View more
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