We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … that avoid econometric biases are insignificant. We also find that the active management industry has become more skilled …

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … that avoid econometric biases are insignificant. We also find that the active management industry has become more skilled …

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … avoid econometric biases are insignificant. We also find that the active management industry has become more skilled over …

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … avoid econometric biases are insignificant. We also find that the active management industry has become more skilled over …

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … econometric biases are insignificant. We also find that the active management industry has become more skilled over time. This …