Prior investment outcomes and stock investment in defined contribution plans

dc.contributor.author	Yao, Rui	eng
dc.contributor.author	Lei, Shan	eng
dc.contributor.deptlab	Personal Financial Planning	eng
dc.date.issued	2016	eng
dc.description	Postprint.	eng
dc.description.abstract	In this study, we employ the 2001-2013 Survey of Consumer Finances to examine how prior investment outcomes affect portfolio allocation in defined contribution (DC) plans. Results show that investors with prior gains are more likely to invest all DC plan assets in stocks. Factors such as risk tolerance and investment horizon positively affect investors' tendency to allocate all DC assets to stocks. These findings have important implications for investors, researchers and financial professionals.	eng
dc.description.bibref	Includes bibliographical references.	eng
dc.format.extent	10 pages	eng
dc.identifier	10.1080/13504851.2015.1128067	eng
dc.identifier.citation	Original: Yao, R. & Lei, S. (2016). Prior investment outcomes and stock investment in defined contribution plans. Applied Economics Letters, 23(14), 999-1002.	eng
dc.identifier.uri	https://doi.org/10.1080/13504851.2015.1128067	eng
dc.identifier.uri	https://hdl.handle.net/10355/62746
dc.language	English	eng
dc.rights	OpenAccess.	eng
dc.rights.license	This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.	eng
dc.subject	defined contribution plans ; house money effect ; prior outcome	eng
dc.title	Prior investment outcomes and stock investment in defined contribution plans	eng
dc.type	Postprint	eng
dc.type	Article	eng