Forskning & uppsatser

Premiepensionssystemet

Investor Activity and Performance in Sweden's Premium Pension System

Av: Magnus Dahlquist, SIFR och Handelshögskolan i Stockholm, samt Jose Vicente Martinez och Paul Soderlind

Kommentar: Kopplingen mellan premiepensionsspararnas aktivitet och avkastning (uppdaterad i oktober 2011 med data till och med maj 2011)

Abstract: We examine the activity and performance of a large panel of individual investors (approximately 70,000 investors and their daily returns over the 2000 to 2010 period) in Sweden's Premium Pension System. We document strong inertia in individuals' choices and changes of mutual funds. We find that active investors outperform passive investors, and that there is a causal effect of fund changes on performance. The outperformance is primarily the result of dynamic fund selection. Activity is benecial for the individual investor, whereas extreme flows out of mutual funds (which we attribute to financial advisors) affect funds' net asset value negatively for all investors.

Länk: www.sifr.org/PDFs/DVMS111026.pdf

SRI

"Consumer decision making in a complex environment: Examining the decision making process of socially responsible mutual fund investors" 

Av: Jonas Nilsson, Handelshögskolan vid Umeå Universitet och forskningsprogrammet SIRP

Kommentar: Genom att se fondvalet från konsumentens synvinkel, öka förståelsen för konsumenters val av SRI-fonder.

Länk: http://umu.diva-portal.org/smash/record.jsf?searchId=1&pid=diva2:345495