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Inside financial conglomerates: Effects in the Hungarian pension fund markets

  • Szüle, Borbála
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    Financial conglomerates have evolved in many countries with a developed financial system, their presence and impact are however quite diverse in these economies. Since this phenomenon raises interesting questions about the stability and efficiency of the financial system as well, it is worth examining first of all what kind of effects the participation in a group formed by different financial firms has on the participating institutions. Motivated by this reason in this paper I examine some hypotheses concerning the impact of financial conglomerates in the Hungarian pension fund market. Based on the common view present in the related literature more effective operation and better performance of the participating funds may be assumed. In contrast to this, the results are mixed: an overall evidence in support of the greater effectiveness and better performance of the participating funds could not be found, although there are some features that show an impressive advantage of the participants in financial conglomerates.

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    File URL: http://econstor.eu/bitstream/10419/39707/1/362952841.pdf
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    Paper provided by Bamberg University, Bamberg Economic Research Group in its series BERG Working Paper Series with number 42.

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    Date of creation: 2003
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    Handle: RePEc:zbw:bamber:42
    Contact details of provider: Postal: D-96045 Bamberg
    Phone: 0951/8632687
    Fax: 0951/8632550
    Web page: http://www.uni-bamberg.de/vwl/forschung/berg/

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    1. Bernd Hayo & Matthias Wrede, 2004. "Fiscal equalisation: Principles and an application to the European Union," Social Choice and Welfare, Springer, vol. 23(3), pages 333-348, December.
    2. Billmeier, Andreas, 1999. "The early years of inflation targeting: Review and outlook," BERG Working Paper Series 31, Bamberg University, Bamberg Economic Research Group.
    3. Treier, Volker, 1999. "Unemployment in reforming countries: Causes, fiscal impacts and the success of transformation," BERG Working Paper Series 29, Bamberg University, Bamberg Economic Research Group.
    4. Malaj, Arben & Mema, Fatmir, 2003. "Strategic privatisation: Its achievements and challenges," BERG Working Paper Series 41, Bamberg University, Bamberg Economic Research Group.
    5. Kremer, Jana, 1999. "Arbeitslosigkeit und Steuerpolitik," BERG Working Paper Series 32, Bamberg University, Bamberg Economic Research Group.
    6. Wrede, Matthias, 1999. "A note on reliefs for traveling expenses to work," BERG Working Paper Series 30, Bamberg University, Bamberg Economic Research Group.
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