Publication:
On the Impact of Regulating Commissions: Evidence from the Indian Mutual Funds Market

Simple item page
creativeworkseries.issn1564-698X
dc.contributor.authorSantosh, Anagol
dc.contributor.authorMarisetty, Vijaya
dc.contributor.authorSane, Renuka
dc.contributor.authorBuvaneshwaran, Venugopal
dc.date.accessioned2018-08-03T20:42:17Z
dc.date.available2018-08-03T20:42:17Z
dc.date.issued2017-02
dc.description.abstractCommissions-motivated agents have historically helped the development of many markets, but research suggests brokers motivated by commissions sometimes steer consumers towards inappropriate products. This issue is particularly important in household financial markets where consumers may be unable to evaluate products on their own. While reforms attempting to limit commission payments have been undertaken worldwide, little research has evaluated the impact of these reforms. We study a major Indian investor protection reform that attempted to reduce commissions tied to mutual fund sales by banning the distribution fees that mutual funds had previously earmarked for commissions. We analyze the policy impact by comparing funds charging high versus low distribution fees pre-reform and find no evidence that the reform itself reduced fund flows. We argue that the most plausible explanation is that the Indian asset management industry maintained substantial commissions to brokers through other revenue sources apart from the banned distribution fees.en
dc.identifier.citationWorld Bank Economic Review
dc.identifier.doi10.1596/30136
dc.identifier.issn1564-698X
dc.identifier.urihttps://hdl.handle.net/10986/30136
dc.publisherPublished by Oxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectDEVELOPMENT
dc.subjectFINANCIAL MARKETS
dc.subjectSAVINGS
dc.subjectCAPITAL INVESTMENT
dc.subjectGOVERNMENT POLICY
dc.subjectREGULATION
dc.subjectBANKING
dc.subjectMUTUAL FUNDS
dc.subjectINVESTOR PROTECTION
dc.subjectFINANCIAL CONSUMER PROTECTION
dc.subjectCOMMISSIONS
dc.titleOn the Impact of Regulating Commissionsen
dc.title.subtitleEvidence from the Indian Mutual Funds Marketen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.crossref.titleOn the Impact of Regulating Commissions: Evidence from the Indian Mutual Funds Market
okr.date.disclosure2018-08-01
okr.doctypePublications & Research::Journal Article
okr.doctypePublications & Research
okr.identifier.doi10.1093/wber/lhv065
okr.identifier.doi10.1596/30136
okr.journal.nbpages241-70
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.administrativeSouth Asia
okr.region.countryIndia
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicFinance and Financial Sector Development::Mutual Funds
okr.volume31(1)
relation.isJournalIssueOfPublication0c38fde5-4e44-47e3-845f-ddbb419f9658
relation.isJournalIssueOfPublication.latestForDiscovery0c38fde5-4e44-47e3-845f-ddbb419f9658
relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
relation.isJournalVolumeOfPublication8762f705-3f8b-491a-8613-25e8d1634b11
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
wber_31_1_241.pdf
Size:
492.57 KB
Format:
Adobe Portable Document Format
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Journal Articles