Sponsors of defined contribution retirement plans typically limit the investment choices of plan participants to a small number of investment managers and a limited number of investment vehicles. Such restrictions may limit excessive risk-taking by participants but also may preclude...

Purpose – Barry and Brown find that returns are higher for securities that have been listed for shorter periods of time after controlling for firm size and a January effect. The purpose of this paper is to examine the robustness of this period of listing effect and test for a post‐listing...