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Pension funds – main institutional investor on the Romanian capital market?

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Author Info

  • Laura Raisa MILOS

    („Eftimie Murgu” University, Faculty of Economic and Administrative Sciences, Reşiţa, Romania)

  • Carmen CORDUNEANU

    (West University of Timişoara, Faculty of Economics and Business Administration, Timişoara, Romania)

Abstract

In this article, the authors emphasize the very important role that institutional investors, under the form of pension funds, hold for the development of capital markets existing in the economy and for supporting the financing process of institutional sectors in the financing deficit situation. This important role is due mainly to the fact that they hold liabilities payable on a long term that assumes that they can finance the economy on a long term. Moreover, the regulations of the private pension system in each country assumes the mandatory idea of directing part of the private saving held by pension funds to the local capital markets. This thing transforms pension funds into very important players on the capital market, supporting it continuously. The authors realize a short presentation of the main theoretical and empirical studies supporting this is made, as well as a personal analysis of the connection between pension funds and the Romanian capital market development.

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Bibliographic Info

Article provided by West University of Timisoara, Romania, Faculty of Economics and Business Administration in its journal Timisoara Journal of Economics.

Volume (Year): 4 (2011)
Issue (Month): 2(14) ()
Pages: 105-110

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Handle: RePEc:wun:journl:tje:v04:y2011:i2(14):a04

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Related research

Keywords: capital market; institutional investors; pension funds; reform; Romania;

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Cited by:
  1. Mihail Dumitru SACALA, 2012. "The Impact Of Global Aging On Asset Prices And Returns," Romanian Statistical Review, Romanian Statistical Review, Romanian Statistical Review, vol. 60(3), pages 31-50, April.

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