Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Plan Compliance Analyst (Administrator)

RPA
(Remote)

RPA logo

Education Consultant

Pentegra
(Remote / Putnam Valley NY)

Pentegra logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>



The In-State Equity Bias of State Pension Plans
National Bureau of Economic Research [NBER]Link to more items from this source
Mar. 16, 2015
"This paper provides evidence on the investment behavior of 27 state pension plans that manage their own equity portfolios. Even though these state plans typically hold broadly diversified portfolios, they substantially over-weight the equity of companies that are headquartered in-state.... [S]tate pension plans are more likely to hold a within-state stock if the headquarters of the firm is located in a county that gave a high fraction of its campaign contributions to the current governor. These politically-motivated holdings yield excess returns for the pension fund."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022 BenefitsLink.com, Inc.