Determinants of pension plan fees in Spain
Impacte
Scholar |
Altres documents de l'autoria: Martí Ballester, Carmen; Matallín Sáez, Juan Carlos; Fernandez-Izquierdo, Maria Angeles
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Mostra el registre complet de l'elementcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8648
comunitat-uji-handle3:10234/8649
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http://dx.doi.org/10.1080/00036840701222462 |
Metadades
Títol
Determinants of pension plan fees in SpainData de publicació
2009Editor
Taylor & FrancisISSN
0003-684Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://www.tandfonline.com/doi/abs/10.1080/00036840701222462#.U042v1fQuW8Versió
info:eu-repo/semantics/publishedVersionParaules clau / Matèries
Resum
Pension plans and funds represent a substantial part of the welfare systems in both Europe and Spain. One of the most important factors in the choice of a plan or fund is the performance it obtains. In view of the ... [+]
Pension plans and funds represent a substantial part of the welfare systems in both Europe and Spain. One of the most important factors in the choice of a plan or fund is the performance it obtains. In view of the influence that fees have on performance, the objective of this study is to analyse the variables that determine the management and custodial fees of individual pension plans. The Spanish market for pension plans and funds sets legal caps on these fees, and at the same time the majority of them are commercialized and managed by financial institutions, which can in turn generate a conflict of interests. In this article, we estimate models with censured variables and our findings show how the average investment per plan, the legal status and the size of the management company to which the plan belongs, and the style of the plan are all relevant determinants of the management fee. In turn, the custodial fee is determined by the legal status of the custodial company, the size, the return and the type of plan. [-]
Publicat a
Applied Economics, 41, 17, p. 2153-2168Drets d'accés
Copyright 2009 Taylor & Francis
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