Buch, Englisch, 272 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 558 g
Efficiency, Investments and Risk-Taking
Buch, Englisch, 272 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 558 g
Reihe: Routledge International Studies in Money and Banking
ISBN: 978-1-138-65680-2
Verlag: Taylor & Francis
The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons?
The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support?
This groundbreaking book will challenge the way pension fund economics is thought about and practiced.
Autoren/Hrsg.
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Weitere Infos & Material
Table of Contents
- Introduction, J.A. Bikker
Part 1: Efficiency
- Is there an optimal pension fund size? A scale-economy analysis of administrative and investment costs, J.A. Bikker,
- The impact of scale, complexity, and service quality on the costs of pension funds: A cross-country comparison, J.A. Bikker, O.W. Steenbeek, F. Torracchi
- Cost differences between pension funds and life insurers in providing pensions, J.A. Bikker
Part 2: Investments behavior and risk-taking
- The eligibility of emerging market bonds for pension fund portfolios, L. Spierdijk and Z. Umar.
- Mean reversion of stock prices and its impact on pension fund investment policies, L. Spierdijk, J.A. Bikker.
- Pension fund investment policy, risk taking, ageing and the life cycle hypothesis, J.A. Bikker, D. Broeders, D. Hollanders, E. Ponds,
- Investor sophistication and risk taking, J. de Dreu, J.A. Bikker.
- Investment risk-taking of institutional investors, J.K. Gorter, J.A Bikker.
Part 3: Risk-taking and regulation
- Measuring and explaining implicit risk sharing in defined benefit pension funds, J.A. Bikker, T. Knaap, W. Romp,
(11) Utility-equivalence of pension security mechanisms, D.W.G.A. Broeders, An Chen, and Birgit Schnorrenberg