Pension funds – main institutional investor on the Romanian capital market?
AbstractIn 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 InfoArticle 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) ()
Postal: 16 J. H. Pestalozzi Street, 300115, Timisoara, Romania
Find related papers by JEL classification:
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
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- 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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