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The final publication is available at Springer via http://dx.doi.org/10.1007/s10693-015-0230-1 ; We examine the role of the investor type in the fee structure of pension plans. Our examination uses a data set of employer-sponsored and individual private pension funds in Spain. We find different determinants of the fees between these two pension plans. We find evidence of market penetration strategies in individual plans but none in employer-sponsored plans. In these plans, the fees are negatively related to their financial groups' market share, whereas in individual plans this relation is negative for management fees but positive for custodian fees. Further, except in the case of custodian fees in individual plans, we find that all fees diminish when the custodian and management firms belong to different financial groups. ; This paper has received financial support from the Spanish Ministry of Economy and Competitiveness (ECO2012-35946-C02-01). Isabel Abinzano particularly acknowledges the financial support of the Andalusian Regional Government (P12-SEJ-1733).

"Achieve investing success by understanding your behavior typeThis groundbreaking book shows how to invest wisely by managing your behavior, and not just your money. Step by step, Michael Pompian (a leading authority in the practical application of Behavioral Finance concepts to wealth management) helps you plan a strategy targeted to your personality. The book includes a test for determining your investment type and offers strategies you can put into use when investing. It also includes a brief history of the stock market, and easy-to-comprehend information about stocks and investing to help you lay a solid foundation for your investment decisions. Behavioral Finance and Investor Types is divided into two parts. Test Your Type, gives an overview of Behavioral Finance as well as the elements that come into play when figuring out BIT, like active or passive traits, risk tolerance, and biases. The book includes a quiz to help you discover what category you are in. Plan and Act, contains the traits common to your type; an analysis of the biases associated with your type; and strategies and solutions that compliment and capitalize on your BIT. Offers a practical guide to an investing strategy that fits both your financial situation and your personality type Includes a test for determining your tolerance for risk and other traits that will determine your investment type Written by the Director of the Private Wealth Practice for Hammond Associates--an investment consulting firm serving institutional and private wealth clients Behavioral Finance and Investor Types offers investors a better sense of what drives them and what puts on their breaks. By using the information found here, you'll quickly become savvy about the world of investing because you'll come to understand your place in it"--

"Achieve investing success by understanding your behavior typeThis groundbreaking book shows how to invest wisely by managing your behavior, and not just your money. Step by step, Michael Pompian (a leading authority in the practical application of Behavioral Finance concepts to wealth management) helps you plan a strategy targeted to your personality. The book includes a test for determining your investment type and offers strategies you can put into use when investing. It also includes a brief history of the stock market, and easy-to-comprehend information about stocks and investing to help you lay a solid foundation for your investment decisions. Behavioral Finance and Investor Types is divided into two parts. Test Your Type, gives an overview of Behavioral Finance as well as the elements that come into play when figuring out BIT, like active or passive traits, risk tolerance, and biases. The book includes a quiz to help you discover what category you are in. Plan and Act, contains the traits common to your type; an analysis of the biases associated with your type; and strategies and solutions that compliment and capitalize on your BIT. Offers a practical guide to an investing strategy that fits both your financial situation and your personality type Includes a test for determining your tolerance for risk and other traits that will determine your investment type Written by the Director of the Private Wealth Practice for Hammond Associates--an investment consulting firm serving institutional and private wealth clients Behavioral Finance and Investor Types offers investors a better sense of what drives them and what puts on their breaks. By using the information found here, you'll quickly become savvy about the world of investing because you'll come to understand your place in it"--

A large body of scholarship in political economy suggests economic growth, and foreign direct investment in regulated industries in particular, is more likely to occur when formal institutions allow states to provide credible commitments regarding the security of property rights. In contrast, this article argues that we must instead examine differences in firm organizational structure and embeddedness to explain variation in the resilience of privatization contracts in weak institutional environments. Domestic investors-or, if contracts are granted at the subnational level, domestic investors with diverse local holdings-work most effectively in the developing world. Domestic investors are better able to negotiate mutually beneficial adaptations to their formal contracts with host governments because they can draw on informal contractual supports that derive from cross-sector diversification and embeddedness in the market. This article finds strong support for this argument through an analysis of fourteen water privatization contracts in Argentina. © 2013 SAGE Publications.

A large body of scholarship in political economy suggests economic growth, and foreign direct investment in regulated industries in particular, is more likely to occur when formal institutions allow states to provide credible commitments regarding the security of property rights. In contrast, this article argues that we must instead examine differences in firm organizational structure and embeddedness to explain variation in the resilience of privatization contracts in weak institutional environments. Domestic investors-or, if contracts are granted at the subnational level, domestic investors with diverse local holdings-work most effectively in the developing world. Domestic investors are better able to negotiate mutually beneficial adaptations to their formal contracts with host governments because they can draw on informal contractual supports that derive from cross-sector diversification and embeddedness in the market. This article finds strong support for this argument through an analysis of fourteen water privatization contracts in Argentina. © 2013 SAGE Publications.

A large body of scholarship in political economy suggests economic growth, and foreign direct investment in regulated industries in particular, is more likely to occur when formal institutions allow states to provide credible commitments regarding the security of property rights. In contrast, this article argues that we must instead examine differences in firm organizational structure and embeddedness to explain variation in the resilience of privatization contracts in weak institutional environments. Domestic investors—or, if contracts are granted at the subnational level, domestic investors with diverse local holdings—work most effectively in the developing world. Domestic investors are better able to negotiate mutually beneficial adaptations to their formal contracts with host governments because they can draw on informal contractual supports that derive from cross-sector diversification and embeddedness in the market. This article finds strong support for this argument through an analysis of fourteen water privatization contracts in Argentina.

Entrepreneurial firms in their early stages cannot finance their own capital sufficiently; hence, external investment is crucial for their survival. Angels, venture capital, and governmental support have played key roles in entrepreneurial financing. Accelerators, a new type of early-stage investor, have been rapidly growing in recent years, and have attracted strong attention. They provide financial support to entrepreneurial firms in their early stages along with mentorship, education, and networking services. However, the advantages of accelerators over existing funding avenues have yet to be proven. Therefore, this study analyzes the behavior and performance of accelerators, angels, and venture capital. We used 30,523 investment data regarding accelerators, angels, and venture capital from the CrunchBase database. By conducting multiple regression and survival analyses, we found that the performance of accelerators differs from that of venture capital, but is similar to that of angels. While accelerators' investees perform well post funding, venture capitals' investees perform well in terms of survivability. This study empirically verifies accelerator-related qualitative research. Additionally, we believe our results will contribute to future accelerator-related research and policy.