Defined contribution pension plans : mutual fund asset allocation changes
In this paper we compare changes in asset allocations between mutual funds held in defined contribution pension plans and funds held by other investors. We investigate how flows into equity and fixed income mutual funds depend on macroeconomic conditions. We find that defined contribution plans reac...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10356/105694 http://hdl.handle.net/10220/26031 |
| _version_ | 1811682802243993600 |
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| author | Sialm, Clemens Starks, Laura Zhang, Hanjiang |
| author2 | Nanyang Business School |
| author_facet | Nanyang Business School Sialm, Clemens Starks, Laura Zhang, Hanjiang |
| author_sort | Sialm, Clemens |
| collection | NTU |
| description | In this paper we compare changes in asset allocations between mutual funds held in defined contribution pension plans and funds held by other investors. We investigate how flows into equity and fixed income mutual funds depend on macroeconomic conditions. We find that defined contribution plans react more sensitively to these conditions, suggesting effects on mutual fund managers and other investors. |
| first_indexed | 2024-10-01T04:02:37Z |
| format | Journal Article |
| id | ntu-10356/105694 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T04:02:37Z |
| publishDate | 2015 |
| record_format | dspace |
| spelling | ntu-10356/1056942023-05-19T06:44:42Z Defined contribution pension plans : mutual fund asset allocation changes Sialm, Clemens Starks, Laura Zhang, Hanjiang Nanyang Business School DRNTU::Business::Finance::Asset allocation In this paper we compare changes in asset allocations between mutual funds held in defined contribution pension plans and funds held by other investors. We investigate how flows into equity and fixed income mutual funds depend on macroeconomic conditions. We find that defined contribution plans react more sensitively to these conditions, suggesting effects on mutual fund managers and other investors. Published version 2015-06-23T07:12:58Z 2019-12-06T21:55:58Z 2015-06-23T07:12:58Z 2019-12-06T21:55:58Z 2015 2015 Journal Article Sialm, C., Starks, L., & Zhang, H. (2015). Defined contribution pension plans : mutual fund asset allocation changes. American economic review, 105(5), 432-436. 0002-8282 https://hdl.handle.net/10356/105694 http://hdl.handle.net/10220/26031 10.1257/aer.p20151006 en American economic review © 2015 American Economic Association. This paper was published in American Economic Review and is made available as an electronic reprint (preprint) with permission of American Economic Association. The published version is available at: [http://dx.doi.org/10.1257/aer.p20151006]. One print or electronic copy may be made for personal use only. Systematic or multiple reproduction, distribution to multiple locations via electronic or other means, duplication of any material in this paper for a fee or for commercial purposes, or modification of the content of the paper is prohibited and is subject to penalties under law. application/pdf |
| spellingShingle | DRNTU::Business::Finance::Asset allocation Sialm, Clemens Starks, Laura Zhang, Hanjiang Defined contribution pension plans : mutual fund asset allocation changes |
| title | Defined contribution pension plans : mutual fund asset allocation changes |
| title_full | Defined contribution pension plans : mutual fund asset allocation changes |
| title_fullStr | Defined contribution pension plans : mutual fund asset allocation changes |
| title_full_unstemmed | Defined contribution pension plans : mutual fund asset allocation changes |
| title_short | Defined contribution pension plans : mutual fund asset allocation changes |
| title_sort | defined contribution pension plans mutual fund asset allocation changes |
| topic | DRNTU::Business::Finance::Asset allocation |
| url | https://hdl.handle.net/10356/105694 http://hdl.handle.net/10220/26031 |
| work_keys_str_mv | AT sialmclemens definedcontributionpensionplansmutualfundassetallocationchanges AT starkslaura definedcontributionpensionplansmutualfundassetallocationchanges AT zhanghanjiang definedcontributionpensionplansmutualfundassetallocationchanges |