平台营销增长与共同基金成果：来自中国的证据

IF 2.1 2区经济学 Q2 BUSINESS, FINANCE

Journal of Financial Markets Pub Date : 2026-03-01 Epub Date: 2025-09-24 DOI:10.1016/j.finmar.2025.101023

Fuwei Jiang , Wei Ning , Can Yang

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引用次数: 0

摘要

我们研究了平台营销对中国共同基金和基金家族的经济影响。平台营销的增长鼓励基金通过提高管理技能而不是增加风险来提高业绩，并激励基金家族更频繁地降低费用和加强产品创新。竞争力的增强和投资需求的扩大导致了更大的市场份额和更高的盈利能力。其他家族基金和同类型基金的平台营销强度产生的经济效应更为明显。我们的研究结果揭示了分销平台如何为财富管理行业的激励市场机制做出贡献。

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Platform marketing growth and mutual fund outcomes: Evidence from China

We examine the economic impact of platform marketing on mutual funds and fund families in China. The growth of platform marketing encourages funds to enhance performance by improving managerial skills rather than increasing risk-taking, and inspires fund families to induce more frequent fee reductions and stronger product innovation. Enhanced competitiveness and expanded investment demand lead to greater market share and higher profitability. Platform marketing intensity from funds in other families and the same type of funds generates more pronounced economic effects. Our findings reveal how distribution platforms contribute to incentive-aligned market mechanisms in the wealth management industry.

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来源期刊

Journal of Financial Markets BUSINESS, FINANCE-

CiteScore

3.40

自引率

3.60%

发文量

期刊介绍： The Journal of Financial Markets publishes high quality original research on applied and theoretical issues related to securities trading and pricing. Area of coverage includes the analysis and design of trading mechanisms, optimal order placement strategies, the role of information in securities markets, financial intermediation as it relates to securities investments - for example, the structure of brokerage and mutual fund industries, and analyses of short and long run horizon price behaviour. The journal strives to maintain a balance between theoretical and empirical work, and aims to provide prompt and constructive reviews to paper submitters.