Template-Type: ReDIF-Article 1.0
Author-Name: Yulia A. Dormidontova
Author-Email: dormidontova@iet.ru
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia
Author-Name: Antonina A. Tikhonova
Author-Email: atikhonova@nifi.ru
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia
Title: The Role of ТLoss AversionУ in the Creation of Optimal Pension AccumulationsХ Investment Strategy
Abstract: The share of pension expenditure in the gross domestic product (GDP) and in the public spending has significantly increased in recent years. For this reason the role of the optimal strategy of investing pension savings is growing as well. This paper examines the impact of Тloss aversionУ on the formation of investment strategies of pension savings by pension market participants. As foreign experience shows, the best in such conditions is a threshold strategy in which the pension actors and market participants set a certain target level of pension savings.
Classification-JEL: I38, J26, J32
Keywords: Тloss aversionУ, investment of pension accumulations, foreign experience, market of pension products
Journal: Finansovyj žhurnal — Financial Journal
Pages: 123-128
Issue: 1
Year: 2014
Month: March
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2014/1/13_1_2014.pdf
File-Format: Application/pdf
Handle: RePEc:fru:finjrn:140113:p:123-128