{"id":"https://openalex.org/W4405079458","doi":"https://doi.org/10.1017/s1474747226100249","title":"Large pension funds do not invest more effectively than smaller pension funds","display_name":"Large pension funds do not invest more effectively than smaller pension funds","publication_year":2026,"publication_date":"2026-11-06","ids":{"openalex":"https://openalex.org/W4405079458","doi":"https://doi.org/10.1017/s1474747226100249"},"language":"en","primary_location":{"id":"doi:10.1017/s1474747226100249","doi":"https://doi.org/10.1017/s1474747226100249","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s1474747226100249","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/C63B0E9BE42ED5F56234E821E6F533E3/S1474747226100249a.pdf/div-class-title-large-pension-funds-do-not-invest-more-effectively-than-smaller-pension-funds-div.pdf","source":{"id":"https://openalex.org/S73680622","display_name":"Journal of Pensions Economics and Finance","issn_l":"1474-7472","issn":["1474-7472","1475-3022"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Pension Economics and Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/C63B0E9BE42ED5F56234E821E6F533E3/S1474747226100249a.pdf/div-class-title-large-pension-funds-do-not-invest-more-effectively-than-smaller-pension-funds-div.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009191742","display_name":"Jacob A. Bikker","orcid":"https://orcid.org/0000-0002-2441-8538","observed_orcids":["https://orcid.org/0000-0002-2441-8538"]},"institutions":[{"id":"https://openalex.org/I96120398","display_name":"De Nederlandsche Bank","ror":"https://ror.org/02fabx761","country_code":"NL","type":"other","lineage":["https://openalex.org/I96120398"]}],"countries":["NL"],"is_corresponding":true,"raw_author_name":"Jacob A. Bikker","raw_affiliation_strings":["De Nederlandsche Bank NV"],"raw_orcid":"https://orcid.org/0000-0002-2441-8538","affiliations":[{"raw_affiliation_string":"De Nederlandsche Bank NV","institution_ids":["https://openalex.org/I96120398"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5034347720","display_name":"Jeroen J. Meringa","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I96120398","display_name":"De Nederlandsche Bank","ror":"https://ror.org/02fabx761","country_code":"NL","type":"other","lineage":["https://openalex.org/I96120398"]}],"countries":["NL"],"is_corresponding":false,"raw_author_name":"Jeroen J. Meringa","raw_affiliation_strings":["De Nederlandsche Bank NV"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"De Nederlandsche Bank NV","institution_ids":["https://openalex.org/I96120398"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5009191742"],"corresponding_institution_ids":["https://openalex.org/I96120398"],"apc_list":{"value":3550,"currency":"USD","value_usd":3550},"apc_paid":{"value":3550,"currency":"USD","value_usd":3550},"fwci":3.7099,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":{"value":0.87311451,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":91,"max":95},"biblio":{"volume":null,"issue":null,"first_page":"1","last_page":"26"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.4968000054359436,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.4968000054359436,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.39890000224113464,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.050700001418590546,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/pension-funds","display_name":"pension funds","score":0.878000020980835},{"id":"https://openalex.org/keywords/pension-fund-size","display_name":"pension fund size","score":0.9259999990463257},{"id":"https://openalex.org/keywords/economies-of-scale","display_name":"economies of scale","score":0.7829999923706055},{"id":"https://openalex.org/keywords/investment-returns","display_name":"investment returns","score":0.6449999809265137},{"id":"https://openalex.org/keywords/asset-allocation","display_name":"asset allocation","score":0.7440000176429749},{"id":"https://openalex.org/keywords/alternative-investments","display_name":"alternative investments","score":0.7630000114440918},{"id":"https://openalex.org/keywords/fixed-income-returns","display_name":"fixed income returns","score":0.800000011920929},{"id":"https://openalex.org/keywords/interest-rate-hedging","display_name":"interest rate hedging","score":0.8600000143051147},{"id":"https://openalex.org/keywords/netherlands","display_name":"Netherlands","score":0.4090000092983246}],"concepts":[{"id":"https://openalex.org/C2780899237","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension","level":2,"score":0.8353787660598755},{"id":"https://openalex.org/C43089589","wikidata":"https://www.wikidata.org/wiki/Q5570807","display_name":"Global assets under management","level":4,"score":0.8112765550613403},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7107772827148438},{"id":"https://openalex.org/C34375142","wikidata":"https://www.wikidata.org/wiki/Q1156684","display_name":"Fund of funds","level":3,"score":0.5702796578407288},{"id":"https://openalex.org/C64589626","wikidata":"https://www.wikidata.org/wiki/Q7142812","display_name":"Passive management","level":4,"score":0.5314311981201172},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5121023654937744},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.4756317138671875},{"id":"https://openalex.org/C2992209059","wikidata":"https://www.wikidata.org/wiki/Q182103","display_name":"Pension fund","level":3,"score":0.4288053512573242},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3591729402542114},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3234652280807495},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.07743999361991882},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.061187416315078735}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1017/s1474747226100249","doi":"https://doi.org/10.1017/s1474747226100249","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s1474747226100249","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/C63B0E9BE42ED5F56234E821E6F533E3/S1474747226100249a.pdf/div-class-title-large-pension-funds-do-not-invest-more-effectively-than-smaller-pension-funds-div.pdf","source":{"id":"https://openalex.org/S73680622","display_name":"Journal of Pensions Economics and Finance","issn_l":"1474-7472","issn":["1474-7472","1475-3022"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Pension Economics and Finance","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.5043920","doi":"https://doi.org/10.2139/ssrn.5043920","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.5043920","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:dnb:dnbwpp:822","doi":null,"is_oa":false,"landing_page_url":"https://www.dnb.nl/media/0ssljik3/working_paper_no-822.pdf","pdf_url":"https://www.dnb.nl/media/0ssljik3/working_paper_no-822.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.1017/s1474747226100249","doi":"https://doi.org/10.1017/s1474747226100249","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s1474747226100249","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/C63B0E9BE42ED5F56234E821E6F533E3/S1474747226100249a.pdf/div-class-title-large-pension-funds-do-not-invest-more-effectively-than-smaller-pension-funds-div.pdf","source":{"id":"https://openalex.org/S73680622","display_name":"Journal of Pensions Economics and Finance","issn_l":"1474-7472","issn":["1474-7472","1475-3022"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Pension Economics and Finance","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4405079458.pdf","grobid_xml":"https://content.openalex.org/works/W4405079458.grobid-xml"},"referenced_works_count":31,"referenced_works":["https://openalex.org/W2006610626","https://openalex.org/W2007876202","https://openalex.org/W2049887619","https://openalex.org/W2101887827","https://openalex.org/W2132005339","https://openalex.org/W2135390081","https://openalex.org/W2164646550","https://openalex.org/W2166399727","https://openalex.org/W2168119114","https://openalex.org/W2315373772","https://openalex.org/W2738929811","https://openalex.org/W2805414186","https://openalex.org/W3022326679","https://openalex.org/W3121317163","https://openalex.org/W3121412182","https://openalex.org/W3121828250","https://openalex.org/W3122112421","https://openalex.org/W3122318098","https://openalex.org/W3123430486","https://openalex.org/W3124124915","https://openalex.org/W3124647015","https://openalex.org/W3125681532","https://openalex.org/W3169596845","https://openalex.org/W3204125256","https://openalex.org/W4226503078","https://openalex.org/W4252833847","https://openalex.org/W4291992167","https://openalex.org/W4392627704","https://openalex.org/W4392841602","https://openalex.org/W4404319048","https://openalex.org/W7154731463"],"related_works":["https://openalex.org/W3082752325","https://openalex.org/W2951825195","https://openalex.org/W4252833847","https://openalex.org/W2137351839","https://openalex.org/W4226503078","https://openalex.org/W2058286145","https://openalex.org/W4415143716","https://openalex.org/W2884761518","https://openalex.org/W3083061999","https://openalex.org/W1503548707"],"abstract_inverted_index":{"Abstract":[0],"One":[1],"of":[2,6,47,52],"the":[3,30,41,73,93],"key":[4,27],"missions":[5],"pension":[7,14,17,32,38,61,101],"funds":[8,39,62],"is":[9],"to":[10,55,88],"maximise":[11],"returns":[12,66,74,95],"on":[13,67,75],"investments.":[15],"The":[16,35],"market":[18],"structure":[19],"should":[20],"be":[21],"as":[22,24],"efficient":[23],"possible,":[25],"one":[26],"factor":[28],"being":[29],"optimal":[31],"fund":[33,102],"size.":[34],"five":[36],"largest":[37],"in":[40],"Netherlands":[42],"benefit":[43],"from":[44],"cost":[45],"economies":[46],"scale;":[48],"they":[49],"allocate":[50],"more":[51],"their":[53,65,76],"assets":[54,58,69],"alternative,":[56],"high-rewarding":[57],"than":[59],"smaller":[60],"do,":[63],"and":[64,79],"these":[68],"are":[70,85,96],"higher.":[71],"However,":[72],"fixed":[77],"income":[78],"interest":[80],"rate":[81],"risk":[82],"hedge":[83],"portfolio":[84],"significantly":[86],"lower":[87],"such":[89],"a":[90],"degree":[91],"that":[92],"overall":[94],"fairly":[97],"similar":[98],"across":[99],"all":[100],"sizes.":[103]},"counts_by_year":[{"year":2026,"cited_by_count":1}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2024-12-06T00:00:00"}
