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Peer effects among teachers: A study of retirement investments

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dc.contributor.author Farrell, James
dc.date.accessioned 2021-09-01T22:48:43Z
dc.date.available 2021-09-01T22:48:43Z
dc.date.issued 2019-09-15
dc.identifier.citation Farrell, J. (2019). Peer effects among teachers: A study of retirement investments. Journal of Family and Economic Issues, 40, 486-497. doi:10.1007/s10834-019-09616-4 en_US
dc.identifier.other 10.1007/s10834-019-09616-4
dc.identifier.uri http://hdl.handle.net/11416/570
dc.identifier.uri https://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=edssjs&AN=edssjs.782BB0B9&site=eds-live&scope=site&custid=s5615486
dc.description.abstract Using a unique matched-panel dataset that combines detailed demographic information from the Florida Department of Education’s annual survey of school districts with investment information from the Florida State Board of Administration for 2002–2009, this paper looks for the presence of peer effects among Florida Defined Contribution plan participants at the school level. Overall, the regression results suggest a small, but significant peer effect on asset allocations and activity level. A 1 standard deviation change in initial peer equity yielded a 0.04 standard deviation change in equity reallocation. This is in comparison to a 1 standard deviation change in the individual’s own initial equity allocation, which would yield a 0.16 standard deviation change in equity allocation. For activity level, a 5.2% change in peer activity level increased the likelihood of a participant being active by 1.8%. The findings are reinforced by similar analysis using false peer groups. These findings suggest the presence of a social multiplier for coworker investment decisions. en_US
dc.language.iso en en_US
dc.publisher Springer en_US
dc.subject Social influence en_US
dc.subject Pension trusts--Investment en_US
dc.title Peer effects among teachers: A study of retirement investments en_US
dc.title.alternative Peer effects among teachers: A study of retirement investments en_US
dc.type Article en_US


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