... to the discussions on the annuitization puzzle by examining investor sophistication and owning annuities in non-retirement accounts. Design/methodology/approach The study utilizes data from the 2018 U S National Financial Capability Study (NFCS). The empirical analyses are based on logistic regression estimates...

...Denis Mike Becker Purpose The purpose of this paper is to establish the flow-to-equity method, the free cash flow (FCF) method, the adjusted present value method and the relationships between these methods when the FCF appears as an annuity. More specifically, we depart from the two most widely...