Abstract：In this paper, we investigate of the impact of a kind of linear structure of management fee rate on the risk-taking behavior of security investment fund. Our study show that the optimal portfolio which the fund manager choose will deviate more from the benchmark portfolio, namely market portfolio, when the degree of the asymmetry of the structure of management fee rate increase. Especially, when the return of the fund is less than that of the market portfolio and the penalty of the fund manager is zero, tha...
王明好;陈忠;蔡晓钰. 费率结构对证券投资基金风险承担行为的影响研究[J]. 系统工程理论与实践, 2004, 24(10): 117-121.
Ming Hao WANG;Zhong CHEN;Xiao Yu CAI. Study on the Impact of the Structure of Management Fee Rateon the Risk-taking Behavior of Security Investment Fund. Systems Engineering - Theory & Practice, 2004, 24(10): 117-121.
2004, Vol. 24 
