Research Article
Risk-Adjusted Impact of Administrative Costs on the Distribution of Terminal Wealth for Long-Term Investment
Table 1
Opportunity cost of administrative costs (
) for selected combinations of parameter values (
,
).
| Fund | | | | | | |
| Example 1 | | | | | | | Low volatility | | | | | | | Medium volatility | | | | | | | Pessimistic | | | | | | | Breakeven | | | | | | | Optimistic | | | | | | | High volatility | | | | | | | Pessimistic | | | | | | | Breakeven | | | | | | | Optimistic | | | | | | |
|
|
*The interval indicates the domain for parameter according to the conditions in Section 3.2.
|