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Variations between the diverse pension systems in the member states of the European Union hamper labour market mobility, across country borders but also within the countries of the European Union. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues that...
Persistent link: https://www.econbiz.de/10015228618
Variations between the diverse pension systems in the member states of the European Union hamper labour market mobility, across country borders but also within the countries of the European Union. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues that...
Persistent link: https://www.econbiz.de/10015230734
What can granular data on investors' asset demand tell us about stock return variation? Motivated by the recent literature on demand-based asset pricing, I model the growth rate of portfolio holdings based on evolving asset fundamentals by including demand for asset-specific characteristics in a...
Persistent link: https://www.econbiz.de/10015214526
Evidence suggests that arbitragers exchange investment ideas. We analyze why and under what circumstances sharing occurs. Our model suggests that sharing ideas will lead to the following: more efficient asset prices, larger arbitrager profits, and correlated arbitrager returns. We predict that...
Persistent link: https://www.econbiz.de/10015215190
Through an implementation of the 2-level-approach due to Vesanto & Alhoniemi (2000), this paper addresses a number of problems typically seen when visualized interpretation of Self Organizing Maps (SOM) are applied to derive a systematic classification system in the hedge fund literature....
Persistent link: https://www.econbiz.de/10015217947
Pakistan’s pension system is in the process of increasing funding in anticipation of providing for a growing elderly population. The pension assets are mainly invested domestically, as it was just in January 2007 that regulations changed to allow the purchase of international assets. In this...
Persistent link: https://www.econbiz.de/10015219312
importance. Standard portfolio selection theory provides a fundamental justification for international diversification: by …. This paper uses modern portfolio theory to determine the optimal asset allocation for public pension systems in emerging …
Persistent link: https://www.econbiz.de/10015219314
This article describes the evolution of the Brazilian mutual fund industry, its regulatory framework, organization, types of investors and managers, economic environment and its relative growth. It shows the evolution of this industry in Brazil and its idiosyncrasies providing a deeper look into...
Persistent link: https://www.econbiz.de/10015220951
This paper examines the investment behavior of Indian mutual fund industry. Since the majority of investors who invest in mutual funds are salaried individuals or individuals that own SMEs, the Indian Mutual Fund industry should have a long term investment horizon. However, the data from all...
Persistent link: https://www.econbiz.de/10015221432
Using the CEM pension fund data set, we document the cost structure and performance of a large sample of US pension funds. To date, self-reporting biases and a deficiency of comprehensive return and cost data have severely hindered pension fund performance studies. The bias-free CEM dataset...
Persistent link: https://www.econbiz.de/10015222149