Company Stock in Defined Contribution Plans: Evidence from Proxy Voting
نویسندگان
چکیده
منابع مشابه
Company Stock in 401(k) Plans *
Investors in 401(k) plans violate basic principles of diversification by holding a significant fraction of their savings in the form of their employers’ equity. This paper characterizes investors’ active changes to their company stock investment over time by analyzing new inflows and transfers. Investors seem to base active changes on salient information, paying attention to past returns, volat...
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The financial market’s performance plays an important role in the retirement date of a DC pension plan holder. Consequentially, it could potentially also influence the labour force structure of countries that adopt DC features in their public and private pension systems. Numerous studies are motivated, however, by the theory that financial markets are affected by a country’s demographics, makin...
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Due to pension fund problems in Iran, the multi-pillar social insurance system has been released in 2017. According to this, the first pillar is regarding to low income groups and finance through the public fund. The second pillar is defined benefit and finance pay as you go. The third pillar is defined contribution and fully funded finance. Contributions are transferred to the individual accou...
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The private pension structure in the United States, once dominated by defined benefit (DB) plans, is currently divided between defined contribution (DC) and DB plans. Wealth accumulation in DC plans depends on the participant's contribution behavior and on financial market returns, while accumulation in DB plans is sensitive to a participant's labor market experience and to plan parameters. Thi...
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Most defined contribution (DC) pension plans give their members a degree of choice over the investment strategy for their contributions. Many plans also offer a ‘default’ fund for members unable or unwilling to choose their own investment strategy. We analyse the range of default funds offered by UK ‘stakeholder’ DC plans, which by law must offer a default fund. We find the default funds are ty...
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ژورنال
عنوان ژورنال: Financial Management
سال: 2016
ISSN: 0046-3892
DOI: 10.1111/fima.12147