Since 2014
Pension Funds in Poland: Efficiency Analysis for Years 1999–2013
Dynamic Econometric Models
View Archive Info| Field | Value | |
| Title |
Pension Funds in Poland: Efficiency Analysis for Years 1999–2013
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| Creator |
Kompa, Krzysztof; WULS in Warsaw, Department of Econometrics and Statistics
Witkowska, Dorota; University of Lodz, Department of Finance and Strategic Management |
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| Subject |
pension system; pension funds; Sharpe and Treynor efficiency ratios
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| Description |
The reform of the pension system in Poland took place in 1999, when the one-pillar Pay-As-You-Go system (PAYG) was replaced by the three-pillars system consisting of two mandatory (PAYG and fully funded) pillars and voluntary (funded) one. However problems concerning budget deficit in Poland caused that the Polish government introduced significant changes in distribution of the pension contribution between both mandatory pillars and in the pension funds’ portfolio composition in 2011 and 2013. The aim of this study is to analyze the performance of the pension funds operating in Poland in the years 1999–2013. Applying Sharpe and Treynor ratios the study provides evidence that well diversified portfolio protects pensioners’ interest better than portfolios constructed due to the new rules.
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| Publisher |
Nicolaus Copernicus University
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| Contributor |
—
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| Date |
2015-04-15
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://apcz.umk.pl/czasopisma/index.php/DEM/article/view/DEM.2014.006
10.12775/DEM.2014.006 |
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| Source |
Dynamic Econometric Models; Vol 14 (2014); 105-124
Dynamic Econometric Models; Vol 14 (2014); 105-124 2450-7067 1234-3862 |
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| Language |
eng
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| Relation |
http://apcz.umk.pl/czasopisma/index.php/DEM/article/view/DEM.2014.006/5254
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| Rights |
Copyright (c) 2015 Dynamic Econometric Models
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