Mutual funds , business location decision , financial regulation , networks in capital markets
Abstract:
Specific industry factors determining cross-border business set-up in the European
mutual fund industry are analyzed to contribute to the understanding of production specificities in the
financial industry. The findings indicate that the decision on where to domicile a fund is not primarily
driven by traditional cost factors, such as registration charges and labor costs. Network conditions with
respect to the knowledge-based production process of mutual funds and the interaction with regulating
authorities such as the approval process embedded in the legal framework and the quality of the
workforce in a dense specialized cluster matter most. Differences in such network conditions may allow
fund companies to set up more innovative and complex funds in a shorter period of time in one country
than in other countries. The findings highlight also that the practitioners agree on such network
determinants as being most important.
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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