全球智库信息集成服务系统(G2TT): It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18764
来源ID	Working Paper 18764
	It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans
	Veronika K. Pool; Clemens Sialm; Irina Stefanescu
发表日期	2013-02-01
出版年	2013
语种	英语
摘要	This paper investigates whether mutual fund families acting as trustees of 401(k) plans display favoritism toward their own funds. Using a hand-collected dataset on retirement investment options, we show that poorly-performing funds are less likely to be removed from and more likely to be added to a 401(k) menu if they are affiliated with the plan trustee. We find no evidence that plan participants undo this affiliation bias through their investment choices. Finally, the subsequent performance of poorly-performing affiliated funds indicates that these trustee decisions are not information driven and are costly to retirement savers.
主题	Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Public Economics ; National Fiscal Issues
URL	https://www.nber.org/papers/w18764
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576438
推荐引用方式 GB/T 7714	Veronika K. Pool,Clemens Sialm,Irina Stefanescu. It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans. 2013.