| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19569 |
| 来源ID | Working Paper 19569 |
| Defined Contribution Pension Plans: Sticky or Discerning Money? | |
| Clemens Sialm; Laura Starks; Hanjiang Zhang | |
| 发表日期 | 2013-10-24 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Participants in defined contribution (DC) retirement plans rarely adjust their portfolio allocations, suggesting that their investment choices and consequent money flows are sticky and not discerning. Yet, the participants' inertia could be offset by the DC plan sponsors, who adjust the plan's investment options. We examine these countervailing influences on flows into U.S. mutual funds. We find that flows into funds that derive from DC assets are more volatile and exhibit more performance sensitivity than non-DC flows, primarily due to the adjustments of the investment options by the plan sponsors. Thus, DC retirement money is less sticky and more discerning. |
| 主题 | Financial Economics ; Financial Markets ; Financial Institutions ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w19569 |
| 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/577244 |
| 推荐引用方式 GB/T 7714 | Clemens Sialm,Laura Starks,Hanjiang Zhang. Defined Contribution Pension Plans: Sticky or Discerning Money?. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
