Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/146719 
Erscheinungsjahr: 
2014
Quellenangabe: 
[Journal:] Estudios de Economía [ISSN:] 0718-5286 [Volume:] 41 [Issue:] 1 [Publisher:] Universidad de Chile, Departamento de Economía [Place:] Santiago de Chile [Year:] 2014 [Pages:] 125-148
Verlag: 
Universidad de Chile, Departamento de Economía, Santiago de Chile
Zusammenfassung: 
The aim of this study is to analyze investor response to different measures of pension plan performance. To do this, we implement a fixed effects panel data methodology corrected by heteroskedasticity, serial correlation and cross-sectional dependence, as proposed by Vogelsang (2012). The results obtained show that investors make their decision to invest in a specific pension plan depending on past returns and the type of management company administering the plan. On analyzing the flow-performance relationship for each type of management company we find that both types of companies can differ in the information provided to investors and in their marketing strategies and services for attracting clients.
Schlagwörter: 
return
Jensen’s Alpha
investor behavior
pension plan flows
panel data models
JEL: 
C23
G23
Dokumentart: 
Article

Datei(en):
Datei
Größe
134.53 kB





Publikationen in EconStor sind urheberrechtlich geschützt.