Parody: derision, respect and fear to ridicule and laugh

Hi, I’m going to research some characteristics related to the concept of parody. Basically, there are two points of view: some theorists suggest that parody is always derisive and mocking; on the other hand, others say that parody (especially modern parodies) can show a respectful attitude towards the text is parodied. In my opinion, parody can be irreverent as well as deferent. Nevertheless, I think that because of a common fear to ridicule and laugh, theorists, critics and readers have undermined the importance of parody, although, in fact, many of the best texts are parodies (Don Quijote, Madame Bovary or Tristam Shandy). So it is usually considered as a minor genre.