메뉴 건너뛰기




Volumn 31, Issue 2, 2012, Pages 254-268

Plan format and participation in 401 (k) plans: The moderating role of investor knowledge

Author keywords

401(k) plans; Decision simulation; Defined contribution plans; Financial literacy; Information format; Investor knowledge

Indexed keywords


EID: 84871244525     PISSN: 07439156     EISSN: 15477207     Source Type: Journal    
DOI: 10.1509/jppm.10.122     Document Type: Article
Times cited : (36)

References (33)
  • 1
    • 56149098662 scopus 로고    scopus 로고
    • Asset allocation and information overload: The influence of information displays
    • Agnew, Julie R. and Lisa R. Szykman ( 2005), " Asset allocation and information overload: The influence of information displays," Journal of Behavioral Finance, 6 ( 2), 57-70.
    • (2005) Journal of Behavioral Finance , vol.6 , Issue.2 , pp. 57-70
    • Agnew, J.R.1    Szykman, L.R.2
  • 2
    • 77951973324 scopus 로고    scopus 로고
    • Literacy, trust and 401k savings behavior
    • Center for Retirement Research at Boston College
    • Agnew, Julie R. and Lisa R. Szykman and Stephen P. Utkus ( 2007), " Literacy, trust and 401k savings behavior," Working Paper CRR WP 2007-10, Center for Retirement Research at Boston College.
    • (2007) Working Paper CRR WP 2007-10
    • Agnew, J.R.1    Szykman, L.R.2    Utkus, S.P.3
  • 3
    • 0023020183 scopus 로고
    • The moderator-mediator distinction in social psychological research: Conceptual, strategic and statistical considerations
    • Baron, Reuben M. and David A. Kenny ( 1986), " The moderator-mediator distinction in social psychological research: conceptual, strategic and statistical considerations," Journal of Personality and Social Psychology, 51 ( 6), 1173-82.
    • (1986) Journal of Personality and Social Psychology , vol.51 , Issue.6 , pp. 1173-1182
    • Baron, R.M.1    Kenny, D.A.2
  • 5
    • 36248972634 scopus 로고    scopus 로고
    • Heuristics and biases in retirement savings behavior
    • Benartzi, Shlomo and Richard H. Thaler ( 2007), " Heuristics and biases in retirement savings behavior," Journal of Economic Perspectives, 21 ( 3), 81-104.
    • (2007) Journal of Economic Perspectives , vol.21 , Issue.3 , pp. 81-104
    • Benartzi, S.1    Thaler, R.H.2
  • 6
    • 0041340926 scopus 로고    scopus 로고
    • The effects of financial education in the workplace: Evidence from a survey of households
    • Bemheim, Douglas B. and Daniel M. Garrett ( 2003), " The effects of financial education in the workplace: evidence from a survey of households," Journal of Public Economics, 87 ( 7/ 8), 1487-1519.
    • (2003) Journal of Public Economics , vol.87 , Issue.7-8 , pp. 1487-1519
    • Bemheim, D.B.1    Garrett, D.M.2
  • 8
    • 67650505105 scopus 로고    scopus 로고
    • Making investment choices as simple as possible: An analysis of target date retirement funds
    • accessed July 25, 2011, available at
    • Bodie, Zvi and Jonathan Treussard ( 2007), " Making investment choices as simple as possible: An analysis of target date retirement funds," SSRN working paper , (accessed July 25, 2011), [available at http://papers.ssrn.com/sol3/papers. cfm?abstract-id=900005].
    • (2007) SSRN Working Paper
    • Bodie, Z.1    Treussard, J.2
  • 9
    • 0042844140 scopus 로고    scopus 로고
    • Defined contribution pensions: Plan rules, participant decisions, and the path of least resistance
    • James Poterba, ed. Cambridge, MA: MIT Press
    • Choi, James J., David Laibson, Brigitte Madrian, and Andrew Metrick ( 2002), " Defined contribution pensions: plan rules, participant decisions, and the path of least resistance," in Tax Policy and the Economy, Vol. 16, James Poterba, ed. Cambridge, MA: MIT Press, 67-113.
    • (2002) Tax Policy and the Economy , vol.16 , pp. 67-113
    • Choi, J.J.1    Laibson, D.2    Madrian, B.3    Metrick, A.4
  • 10
    • 84871220294 scopus 로고    scopus 로고
    • A Beachhead for the behavioralists
    • June 28-July 4, 19-20.
    • Doming, Mike ( 2010), " A Beachhead for the behavioralists," BusinessWeek, ( June 28-July 4), 19-20.
    • (2010) BusinessWeek
    • Doming, M.1
  • 11
    • 0036274971 scopus 로고    scopus 로고
    • Participation and investment decisions in a retirement plan: The influence of colleagues' choices
    • Duflo, Esther and Emmanuel Saez ( 2002), " Participation and investment decisions in a retirement plan: The influence of colleagues' choices," Journal of Public Economic, 85 ( 1), 121-48.
    • (2002) Journal of Public Economic , vol.85 , Issue.1 , pp. 121-148
    • Duflo, E.1    Saez, E.2
  • 12
    • 28744452735 scopus 로고    scopus 로고
    • How subjective grouping of options influences choice and allocation: Diversification bias and the phenomenon of partition dependence
    • Fox, Craig R., Rebecca Ratner, and Daniel S. Lieb ( 2005), " How subjective grouping of options influences choice and allocation: diversification bias and the phenomenon of partition dependence," Journal of Experimental Psychology: General, 134 ( 4), 538-51.
    • (2005) Journal of Experimental Psychology: General , vol.134 , Issue.4 , pp. 538-551
    • Fox, C.R.1    Ratner, R.2    Lieb, D.S.3
  • 13
    • 0042496237 scopus 로고    scopus 로고
    • Partition priming in judgment under uncertainty
    • Yuval Rottenstreich ( 2003), " Partition priming in judgment under uncertainty," Psychological Science, 14 ( 3), 195-200.
    • (2003) Psychological Science , vol.14 , Issue.3 , pp. 195-200
    • Rottenstreich, Y.1
  • 14
    • 77956445533 scopus 로고    scopus 로고
    • Do financial education programs work?
    • (accessed July 25, 2011), available at
    • Hathaway, Ian and Sameer Khatiwada ( 2008), " Do financial education programs work?" Federal Reserve Bank of Cleveland Working Paper No. 08-03, (accessed July 25, 2011), [available at http:// wwwrlevelandfed.org/research/ workpaper/2008/wp0803.pdf].
    • (2008) Federal Reserve Bank of Cleveland Working Paper No. 08-03
    • Hathaway, I.1    Khatiwada, S.2
  • 15
    • 84871212603 scopus 로고    scopus 로고
    • Impact of automatic enrollment on defined contribution plans, lessons from the private sector
    • accessed July 25, 2011, available at
    • Hess, Pamela and Valerie Kupferschmidt ( 2011), " Impact of automatic enrollment on defined contribution plans, lessons from the private sector," Aon Hewitt analysis, (accessed July 25, 2011), [available at http://www.nagdca.org/content.cfm/ id/contributor12011impact-of-automatic- enrollment-on- defined-contribution-plans-lessons-from-the-private-sector].
    • (2011) Aon Hewitt Analysis
    • Hess, P.1    Kupferschmidt, V.2
  • 16
    • 34247595938 scopus 로고    scopus 로고
    • Defined contribution pension plans: Determinants of participation and contribution rates
    • Huberman, Gur, Sheena S. Iyengar, and Wei Jiang ( 2007), " Defined contribution pension plans: determinants of participation and contribution rates," Journal of Financial Services Research, 31 ( 1), 1-32.
    • (2007) Journal of Financial Services Research , vol.31 , Issue.1 , pp. 1-32
    • Huberman, G.1    Iyengar, S.S.2    Jiang, W.3
  • 17
    • 33644899396 scopus 로고    scopus 로고
    • Offering versus choice by 401(k) plan participants: Equity exposure and number of funds
    • -and Wei Jiang ( 2006), " Offering versus choice by 401(k) plan participants: equity exposure and number of funds," Journal of Finance, 61 ( 2), 763-801.
    • (2006) Journal of Finance , vol.61 , Issue.2 , pp. 763-801
    • Jiang, W.1
  • 18
    • 84871218563 scopus 로고    scopus 로고
    • Naive diversification and partition dependence in investment allocation decisions
    • University of Muenster
    • Langer, Thomas and Craig R. Fox ( 2005), " Naive diversification and partition dependence in investment allocation decisions," working paper, Department of Finance, University of Muenster.
    • (2005) Working Paper, Department of Finance
    • Langer, T.1    Fox, C.R.2
  • 19
    • 37649007104 scopus 로고    scopus 로고
    • Financial literacy and retirement preparedness: Evidence and implications for financial education
    • Lusardi, Annamaria and Olivia S. Mitchell ( 2007), " Financial literacy and retirement preparedness: evidence and implications for financial education," Business Economics, 42 ( 1), 35-44.
    • (2007) Business Economics , vol.42 , Issue.1 , pp. 35-44
    • Lusardi, A.1    Mitchell, O.S.2
  • 20
    • 0039888638 scopus 로고    scopus 로고
    • The power of suggestion: Inertia in 401(k) participation and savings behavior
    • Madrian, Brigitte and Dennis F. Shea ( 2001), " The power of suggestion: inertia in 401(k) participation and savings behavior," Quarterly Journal of Economics, 116 ( 4), 1149-1525.
    • (2001) Quarterly Journal of Economics , vol.116 , Issue.4 , pp. 1149-1525
    • Madrian, B.1    Shea, D.F.2
  • 22
    • 84871251239 scopus 로고    scopus 로고
    • The Do-it-yourself retirement Fund
    • March 19, available at
    • Marquardt, Katy ( 2008), " The Do-it-yourself retirement Fund," U.S. News & World Report, ( March 19), [available at http: //money.usnews.com/money/retirement/articles/2008/03/19/ the-do-it-yourself- retirement-fund].
    • (2008) U.S. News & World Report
    • Marquardt, K.1
  • 23
    • 77953725046 scopus 로고    scopus 로고
    • The effectiveness of youth financial education: A review of the literature
    • McCormick, Martha ( 2009), " The effectiveness of youth financial education: A review of the literature," Journal of Financial Counseling and Planning, 20 ( 1), 70-83.
    • (2009) Journal of Financial Counseling and Planning , vol.20 , Issue.1 , pp. 70-83
    • McCormick, M.1
  • 24
    • 84871203366 scopus 로고    scopus 로고
    • The new morningstar rating methodology
    • April 22, available at
    • Momingstar ( 2002), " The new morningstar rating methodology," Morningstar Research Report, ( April 22), [available at http:// datalab.morningstar.com/Midas/PDFs/Research-StarRating.pdf].
    • (2002) Morningstar Research Report
  • 25
    • 44349141776 scopus 로고    scopus 로고
    • Saving for retirement: The effects of fund assortment size and investor knowledge on asset allocation strategies
    • Morrin, Maureen, Susan Broniarczyk, J. Jeffrey Inman, and John Broussard ( 2008), " Saving for Retirement: The Effects of Fund Assortment Size and Investor Knowledge on Asset Allocation Strategies," Journal of Consumer Affairs, 42 ( 2), 206-222.
    • (2008) Journal of Consumer Affairs , vol.42 , Issue.2 , pp. 206-222
    • Morrin, M.1    Broniarczyk, S.2    Inman, J.J.3    Broussard, J.4
  • 27
    • 44649084492 scopus 로고    scopus 로고
    • Effective retirement savings programs: Design features and financial education
    • Olsen, Anya and Kevin Whitman ( 2007), " Effective retirement savings programs: design features and financial education," Social Security Bulletin, 67 ( 3), 53-72.
    • (2007) Social Security Bulletin , vol.67 , Issue.3 , pp. 53-72
    • Olsen, A.1    Whitman, K.2
  • 28
    • 13844271275 scopus 로고    scopus 로고
    • SPSS and SAS procedures for estimating indirect effects in simple mediation models
    • Preacher, Kirstopher J. and Andrew F. Hayes ( 2004), " SPSS and SAS procedures for estimating indirect effects in simple mediation models," Behavior Research Methods, Instruments, & Computers, 36 ( 4), 717-31.
    • (2004) Behavior Research Methods, Instruments, & Computers , vol.36 , Issue.4 , pp. 717-731
    • Preacher, K.J.1    Hayes, A.F.2
  • 29
    • 0002037905 scopus 로고
    • Asymptotic confidence intervals for indirect effects in structural equation models
    • S. Leinhardt, ed. Washington, DC: American Sociological Association
    • Sobel, M.E. ( 1982), " Asymptotic confidence intervals for indirect effects in structural equation models," in Sociological Methodology, S. Leinhardt, ed. Washington, DC: American Sociological Association, 290-312.
    • (1982) Sociological Methodology , pp. 290-312
    • Sobel, M.E.1
  • 30
    • 1842832021 scopus 로고    scopus 로고
    • Save more tomorrow: Using behavioral economics to increase employee savings
    • Thaler, Richard H. and Shlomo Benartzi ( 2004), " Save more tomorrow: using behavioral economics to increase employee savings," Journal of Political Economy, 112 ( 1, Part 2), S164-87.
    • (2004) Journal of Political Economy , vol.112 , Issue.1 PART 2
    • Thaler, R.H.1    Benartzi, S.2
  • 32
    • 84871243994 scopus 로고    scopus 로고
    • Life-cycle funds
    • Annamaria Lusardi, ed. Chicago: University of Chicago Press
    • Viceira, Luis M. ( 2008), " Life-cycle funds," in Overcoming the Saving Slump, Annamaria Lusardi, ed. Chicago: University of Chicago Press, 140-76.
    • (2008) Overcoming the Saving Slump , pp. 140-176
    • Viceira, L.M.1
  • 33
    • 77954189282 scopus 로고    scopus 로고
    • The effects of financial education on the financial knowledge of high school students
    • Walstad, William B., Ken Rebeck, and Richard A. MacDonald ( 2010), " The effects of financial education on the financial knowledge of high school students," Journal of Consumer Affairs, 44 ( 2), 336-57.
    • (2010) Journal of Consumer Affairs , vol.44 , Issue.2 , pp. 336-357
    • Walstad, W.B.1    Rebeck, K.2    MacDonald, R.A.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.