Christoffersen is from the Rotman School of Management at the University of Toronto and the Copenhagen Business School. Evans is from the Darden School of Business at the University of Virginia. Musto is from the Wharton School at the University of Pennsylvania. Christoffersen gratefully acknowledges financial support from SSHRC, IFM2, and the Canadian Securities Institute Research Foundation. The authors also wish to thank the Q-group for their financial support of this project and the ICI, especially Shelly Antoniewicz, for their assistance with data. We are deeply grateful for comments from the Editor, Associate Editor, and two anonymous referees. In addition, several individuals provided helpful input including Dan Bergstresser, John Chalmers, Peter Christoffersen, Paul Irvine, Marcin Kacperczyk, Randi Naes, Tim Simin, Lu Zheng, and seminar participants at Indiana University, INSEAD, Penn State University, SUNY Buffalo, University of Colorado at Boulder, University of Toronto, University of Utah, University of Vienna, Boston College, 2005 Mitsui Life Conference at the University of Michigan, 2005 Q-Group Meetings in Carlsbad, 2005 Northern Finance Association Meetings, 2006 American Finance Association Meetings, 2006 Financial Management Association Meetings, 2008 European Winter Finance Conference, and Cass Business School Conference 2009. The paper was previously titled “The Economics of Mutual Fund Brokerage: Evidence from the Cross-Section of Investment Channels.” Extensive research assistance was needed in matching databases from Eric Turner, Jerome Grenier, John Bromley, and Thibault Webanck. Any remaining errors are our responsibility. Part of this paper was written while Christoffersen was at McGill University and visiting Copenhagen Business School.
What Do Consumers’ Fund Flows Maximize? Evidence from Their Brokers’ Incentives
Article first published online: 11 JAN 2013
© 2013 The American Finance Association
The Journal of Finance
Volume 68, Issue 1, pages 201–235, February 2013
How to Cite
CHRISTOFFERSEN, S. E. K., EVANS, R. and MUSTO, D. K. (2013), What Do Consumers’ Fund Flows Maximize? Evidence from Their Brokers’ Incentives. The Journal of Finance, 68: 201–235. doi: 10.1111/j.1540-6261.2012.01798.x
- Issue published online: 11 JAN 2013
- Article first published online: 11 JAN 2013
- Accepted manuscript online: 23 DEC 2012 03:45AM EST
- Initial submission: February 6, 2010; Final version received: July 26, 2012
Options for accessing this content:
- If you have access to this content through a society membership, please first log in to your society website.
- If you would like institutional access to this content, please recommend the title to your librarian.
- Login via other institutional login options http://onlinelibrary.wiley.com/login-options.
- You can purchase online access to this Article for a 24-hour period (price varies by title)
- If you already have a Wiley Online Library or Wiley InterScience user account: login above and proceed to purchase the article.
- New Users: Please register, then proceed to purchase the article.
Login via OpenAthens
Search for your institution's name below to login via Shibboleth.
Registered Users please login:
- Access your saved publications, articles and searches
- Manage your email alerts, orders and subscriptions
- Change your contact information, including your password
Please register to:
- Save publications, articles and searches
- Get email alerts
- Get all the benefits mentioned below!