Details

Autor(en) / Beteiligte

• Lippi, Andrea

Titel

Switch-out and switch-in: What motivates the decision makers in Italian occupational pension funds?

Ist Teil von

• Journal of Governance and Regulation, 2016, Vol.5 (1), p.37-42

Erscheinungsjahr

2016

Quelle

EZB Electronic Journals Library

Beschreibungen/Notizen

• To switch presumes two kinds of transactions carried out by the same person: on the one hand, the decision to exit an investment line (switch-out) and, on the other hand, the decision to enter into a new investment line (switch-in). What motivates the decision makers? This paper, considering a sample of Italian occupational pension funds, investigates the impact of short-term and long-term performance on the switch decision process and whether the same performance can lead investors to make opposite switch decisions. Some irrational behaviors are identified.