An examination of the supannuation fund market reaction to the 'Choice of Fund' policy

Zheng, Xiaodan (2010). An examination of the supannuation fund market reaction to the 'Choice of Fund' policy Honours Thesis, UQ Business School, The University of Queensland.

       
Attached Files (Some files may be inaccessible until you login with your UQ eSpace credentials)
Name Description MIMEType Size Downloads
X_Zheng_BCom_Hons_Thesis.pdf Honours Thesis application/pdf 412.46KB 6
Author Zheng, Xiaodan
Thesis Title An examination of the supannuation fund market reaction to the 'Choice of Fund' policy
School, Centre or Institute UQ Business School
Institution The University of Queensland
Publication date 2010-10-28
Thesis type Honours Thesis
Supervisor Karen Benson
Karen Alpert
Total pages 90
Language eng
Subjects 1502 Banking, Finance and Investment
Abstract/Summary Since the enactment of the Superannuation Choice legislation in July 2005, employees are now able to choose the fund into which their superannuation contributions will be invested. The stated aim of the Choice legislative change is to increase the efficiency and competitiveness of the superannuation industry. In this study, efficiency is measured by assessing the fund industry reaction via an examination of the flow-performance relation. Competitiveness is evaluated by assessing the persistence in performance of individual funds. Consistent with the hypotheses, the 'Choice of Fund' policy has a significant effect on increasing the efficiency of the superannuation industry, which is supported by a stronger flowperformance relation post-Choice. The study also finds that competition in the superannuation industry has increased, which is evidenced by a decrease in performance persistence in the top performing funds and an increase in performance persistence in the bottom performing funds.

 
Citation counts: Google Scholar Search Google Scholar
Access Statistics: 37 Abstract Views, 6 File Downloads  -  Detailed Statistics
Created: Tue, 17 Jul 2012, 11:31:52 EST by Karen Morgan on behalf of UQ Business School