Work

Finance comportementale et fonds de pension

Year: 2006

Type: preprint

Abstract: Behavioural finance has recently developed against the traditional efficient market hypothesis. It mainly focuses on individual behaviour. This paper presents a survey on the behavioural biases of pension funds. We argue that the strategic allocation of pension funds is subject to "anormal" behaviours due to the investment biases of the individuals affiliated to pensiob funds, mainly guided by their preferences and their beliefs. On the opposite, their tactical allocation is influenced by behavioural biases driven by the agency relationships between pension funds stakeholders.

Source: RePEc: Research Papers in Economics

Authors: Anne Lavigne, Florence Legros

Institutions: Laboratoire d’Économie d’Orléans, Laboratoire de Sciences Actuarielle et Financière

Language: French

Topic: Financial Markets and Investment Strategies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1857601627

Cites: 55

Cited by: 1

Related to: 10