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A Strategic Management Perspective of Fund Family Competition: Theories and Evidence from America and China

Abstract Since the 2008 financial crisis, the total assets managed by U.S. mutual funds have frequently hit new highs and the industry has become increasingly concentrated. In the meantime, two strategies have emerged in the American mutual fund industry: active and passive management. What factors affect the market shares of firms that adopted these two different strategies?

Building on strategic management theories, I suggest that mutual fund families that adopted active and passive management strategies tend to compete in different dimensions. Active management fund families tend to implement the product differentiation strategy, competing on “product quality” through excess-returns, innovative and differentiated fund products; passively manage... (more)
Created Date 2018
Contributor Liu, Jianping (Author) / Zhu, Hongquan (Advisor) / Chang, Chun (Advisor) / Yan, Hong (Committee member) / Arizona State University (Publisher)
Subject Business administration / Finance / active and passive management / fund families / market share / mutual fund industry / strategic management
Type Doctoral Dissertation
Extent 133 pages
Language Chinese
Reuse Permissions All Rights Reserved
Note Doctoral Dissertation Business Administration 2018
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS

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Description Dissertation/Thesis