Determinants of equity pension plan flows

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Estudios de Economía ; ISSN: 0718-5286 ; Volume: 41 ; Year: 2014 ; Issue: 1 ; Pages: 125-148 ; Santiago de Chile: Universidad de Chile, Departamento de Economía

Classification and Topics

• Classification: Wirtschaft ; Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models ; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
• Subject: return ; Jensen’s Alpha ; investor behavior ; pension plan flows ; panel data models

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Martí Ballester, Carmen Pilar
• Event: Veröffentlichung
• (who): Universidad de Chile, Departamento de Economía
• (where): Santiago de Chile
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/146719
• Last update: 10.03.2025, 11:45 AM CET