We investigate the risk-sharing implications of taxation associated with the option to convert a traditional IRA to Roth IRA. Although the conversion option may create value for savers by potentially reducing their tax burdens, the risk profile of their holdings may change. Delaying payment of...

This paper empirically examines the agency problems associated with the use of soft dollars in delegated portfolio management. We assume that active portfolio managers are hired to identify private information about mispriced securities, but in the absence of careful monitoring by investors or...