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The Effect of Commission Bans on Household Wealth: Evidence from OECD Countries

URN to cite this document:
urn:nbn:de:bvb:355-epub-542810
DOI to cite this document:
10.5283/epub.54281
Sebastian, Steffen P. ; Noth, Lukas ; Grafe, Albert

This is the latest version of this item.

Date of publication of this fulltext: 25 May 2023 06:24


Abstract

Abstract In most OECD countries, financial advisors are primarily paid through commissions. This entails a principal agent problem in which the financial advisor has the incentive to sell financial products that maximize his income, not however the return of the investor seeking financial advice. To combat this conflict of interest, countries such as Denmark, Finland or Great Britain introduced ...

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