individual investors, we analyze factors associated with current and expected future equity allocation. Results indicate that … although DC plan participation has no significant effect on current equity allocation, it significantly increases the expected … future equity allocation. Financial asset holdings have a significant positive effect on current and expected future equity …

, outperformance of equities over bonds and other investment categories automatically results in a higher actual equity allocation (and …, outperformance of equities induces pension funds to increase their strategic equity allocation (and vice versa). These findings … deviate from that of small funds: they hold more equity and their equity allocation is much more strongly affected by actual …

A discrete time probabilistic model, for optimal equity allocation and portfolio selection, is formulated so as to …