Since 2014
Pension Fund Investment Management and Stock Markets
Journal of Financial Studies
View Archive Info| Field | Value | |
| Title |
Pension Fund Investment Management and Stock Markets
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| Creator |
Chih-Wen Mao
Chung-Hua Shen |
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| Description |
This paper analyzes the impact of pension fund investment management on stock markets using a robust panel threshold model （ROPTM） which combines a panel threshold model with a robust regression model. We use panel data for some OECD countries and Taiwan to test the validity of our propositions. The data is divided into low and high investment regions based on the value of stocks as a percentage of total financial assets of the pension fund. In the high investment region, pension funds have a positive impact on stock markets. Whereas, in the low investment region, the positive impact seems to disappear. Key words: pension funds, stock markets, robust panel threshold model （ROPTM）, Mestimators |
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| Publisher |
Journal of Financial Studies
財務金èžå¸åˆŠ |
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| Date |
2011-03-10
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| Type |
—
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| Format |
application/pdf
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| Identifier |
http://www.jfs.org.tw/index.php/jfs/article/view/2011067
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| Source |
Journal of Financial Studies; Vol 17, No 3 (2009); 37
財務金èžå¸åˆŠ; Vol 17, No 3 (2009); 37 |
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| Language |
—
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