[PDF][PDF] What do soft-dollars buy? performance, expense shifting, agency costs

RM Edelen, R Evans, GB Kadlec - AFA San Francisco …, 2008 - conference.nber.org
We examine several hypotheses regarding mutual-fund commission payments using data
from N-SAR filings. Consistent with an information motive, relatively active funds pay higher …

Broker rebates and investor sophistication

MM Haziza, A Kalay - Available at SSRN 2493693, 2014 - papers.ssrn.com
Following a ruling of the Israeli Securities Authority, portfolio managers had to obtain their
clients' consent, in writing; so that they can continue to receive a fraction of the transaction …

[PDF][PDF] Investor Sophistication–A Case to Consider

M Haziza, A Kalay - URL:[http://y2008. recanati. tau. ac. il/Eng …, 2012 - en-coller.m.tau.ac.il
In this unique empirical investigation investors need to decide whether or not to allow their
fund manager to receive a portion of their managed portfolio transaction fees. This …

[CITATION][C] Soft Dollar Arrangements and Investor Sophistication

M Haziza, A Kalay