Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.
Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.
Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session with the name and email address of the author who will be attending and presenting. Each presentation must have a separate paid registraint. Contact the ACCI Office immedicately by email at admin@consumerinterests.org to report a conflict or if you have questions. Please be sure to reference the session title(s), date(s), and time(s) if you contact us.
B1a Factors That Impact Defined Contribution Equity Percentage: A Bayesian Model Averaging Approach
Key Words
risk, equity percentage, Baysian Model Averaging
Short Description
The impact that demographic and socioeconomic variables have on equity percentage, after risk preferences have been netted out, are analyzed using portfolio data from defined contribution (DC) plans. First, we regress DC equity percentage on investor risk preferences in order to obtain surrogate residuals. Second, we use a Bayesian Model Averaging approach to analyze the association between demographic variables and those surrogate residuals. Using cross-sectional data from Morningstar Associates that span the Great Recession, we find that age and the use of an allocation fund (e.g. target-date fund) are negatively associated with DC equity percentage. In addition, we find that the level of the S&P 500, DC deferral (savings) rate and salary are all positively associated with DC equity percentage.