Pool, Veronika K.; Sialm, Clemens; Stefanescu, Irina - Federal Reserve Board (Board of Governors of the … - 2014
This paper investigates whether mutual fund families acting as service providers in 401(k) plans display favoritism toward their own funds. Using a hand-collected dataset on retirement investment options, we show that poorly-performing funds are less likely to be removed from and more likely to...