dc.contributor.author | Drew, ME | |
dc.date.accessioned | 2017-05-03T15:39:12Z | |
dc.date.available | 2017-05-03T15:39:12Z | |
dc.date.issued | 2006 | |
dc.date.modified | 2010-03-08T06:29:19Z | |
dc.identifier.issn | 1035-6908 | |
dc.identifier.doi | 10.1111/j.1835-2561.2006.tb00041.x | |
dc.identifier.uri | http://hdl.handle.net/10072/29106 | |
dc.description.abstract | Abstract: Purpose - To investigate the effects of switching strategies between investment options for Australian superannuation funds. Design/methodology/approach - Outlines the switching arrangements available, refers to relevant research and explains Bauer and Dahlquist's (2001) 'roulette wheel' approach to evaluating switching strategies. Applies it to 1985-2005 monthly returns data for Australian and global investment opportunities including property and blended options. Explains the methodology and considers consistency with other research. Findings - Although Australian equities gave negative returns for 89 of the 252 months, an Australian equity buy-and-hold strategy gave better returns than 63% of possible switching paths. Buy-and-hold was also superior to switching between Australian property and T-bills etc., confirming Sharpe's (1975) idea that investors need a 70% to 80% forecast accuracy for switching to work. Research limitations/implications - Calls for more research on superannuation funds' default investment options and switching effects, including switching at the margin. Originality/value - Provides evidence that buy-and-hold is usually better than switching strategies in the context of Australian superannuation funds. | |
dc.description.peerreviewed | Yes | |
dc.description.publicationstatus | Yes | |
dc.language | English | |
dc.language.iso | eng | |
dc.publisher | Australian Society of Certified Practising Accountants | |
dc.publisher.place | Australia | |
dc.relation.ispartofstudentpublication | N | |
dc.relation.ispartofpagefrom | 23 | |
dc.relation.ispartofpageto | 31 | |
dc.relation.ispartofissue | 3 | |
dc.relation.ispartofjournal | Australian Accounting Review | |
dc.relation.ispartofvolume | 16 | |
dc.rights.retention | Y | |
dc.subject.fieldofresearch | Other economics | |
dc.subject.fieldofresearch | Accounting, auditing and accountability | |
dc.subject.fieldofresearch | Accounting, auditing and accountability not elsewhere classified | |
dc.subject.fieldofresearchcode | 3899 | |
dc.subject.fieldofresearchcode | 3501 | |
dc.subject.fieldofresearchcode | 350199 | |
dc.title | Superannuation: Switching and Roulette Wheels | |
dc.type | Journal article | |
dc.type.description | C1 - Articles | |
dc.type.code | C - Journal Articles | |
gro.date.issued | 2006 | |
gro.hasfulltext | No Full Text | |
gro.griffith.author | Drew, Michael E. | |