| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27573 |
| 来源ID | Working Paper 27573 |
| Out of Sight No More? The Effect of Fee Disclosures on 401(k) Investment Allocations | |
| Mathias Kronlund; Veronika K. Pool; Clemens Sialm; Irina Stefanescu | |
| 发表日期 | 2020-07-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We examine the effects of a 2012 regulatory reform that mandated fee and performance disclosures for the investment options in 401(k) plans. We show that participants became significantly more attentive to expense ratios and short-term performance after the reform. The disclosure effects are stronger among plans with large average contributions per participant and weaker for plans with many investment options. Additionally, these results are not driven by secular changes in investor behavior or sponsor-initiated changes to the investment menus. Our findings suggest that providing salient fee and performance information can mitigate participants' inertia in retirement plans. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Financial Institutions ; Behavioral Finance ; Public Economics ; Taxation ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w27573 |
| 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/585246 |
| 推荐引用方式 GB/T 7714 | Mathias Kronlund,Veronika K. Pool,Clemens Sialm,et al. Out of Sight No More? The Effect of Fee Disclosures on 401(k) Investment Allocations. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27573.pdf（608KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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