Pension theory suggests and empirical tests indicate that optimal funding levels for defined benefit plans are determined on the basis of risk, taxes, and capital availability. This study examines whether federal pension and tax legislation enacted in 1986 and 1987 significantly altered the role...

Exchange Traded Funds (ETFs), including the innovative leveraged (long and inverse) types, and the ever more creative traditional versions, are accelerating in popularity as preferred investment and trading vehicles. Real estate, a major investment sector, has been made more accessible through...