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Pension funds and stock market development: evidence from OECD countries

Pension funds and stock market development: evidence from OECD countries Pension funds have experienced considerable expansions in the value of their asset holdings after the gradual global transition from single tier pension system to multi-tiered pension systems, due to public pensions becoming financially unsustainable. Increases in the value of the pension funds' financial asset holdings have enhanced their efficiency in capital markets. This paper investigates the effect of pension funds as an institutional investor on stock market development in 18 OECD member states for the period of 2001-2015 with panel data analysis. The findings suggest that pension funds affected stock market development positively in the long run. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Sustainable Economy Inderscience Publishers

Pension funds and stock market development: evidence from OECD countries

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1756-5804
eISSN
1756-5812
DOI
10.1504/IJSE.2019.100672
Publisher site
See Article on Publisher Site

Abstract

Pension funds have experienced considerable expansions in the value of their asset holdings after the gradual global transition from single tier pension system to multi-tiered pension systems, due to public pensions becoming financially unsustainable. Increases in the value of the pension funds' financial asset holdings have enhanced their efficiency in capital markets. This paper investigates the effect of pension funds as an institutional investor on stock market development in 18 OECD member states for the period of 2001-2015 with panel data analysis. The findings suggest that pension funds affected stock market development positively in the long run.

Journal

International Journal of Sustainable EconomyInderscience Publishers

Published: Jan 1, 2019

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