Performance persistence and its influence on money and investor flows into Spanish pension plans

Performance persistence and its influence on money and investor flows into Spanish pension plans This article analyzes the phenomenon of performance persistence in Spanish equity pension plans between 1999 and 2006 to determine whether plans with higher performance in one period continue obtaining higher performance in the future. It also aims to determine the influence of past performance on investor behavior in order to examine whether money and investor flows of these portfolios are affected by past performance. The results reveal the existence of short-term performance persistence and a statistically significant relationship between historical returns and investment flows. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Quantitative Finance and Accounting Springer Journals

Performance persistence and its influence on money and investor flows into Spanish pension plans

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Publisher
Springer US
Copyright
Copyright © 2008 by Springer Science+Business Media, LLC
Subject
Finance; Corporate Finance; Accounting/Auditing; Econometrics; Operation Research/Decision Theory
ISSN
0924-865X
eISSN
1573-7179
D.O.I.
10.1007/s11156-008-0087-6
Publisher site
See Article on Publisher Site

References

  • Consistency of UK pension fund performance
    Brown, G; Draper, P; McKenzie, E
  • Survivorship bias and attrition effects in measures of performance persistence
    Carpenter, JN; Lynch, A

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