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Izpis gradiva

Naslov:Are excessive legislative restrictions of pension fundʼs investments required to ensure these fundsʼ operational stability and minimum guaranted return?
Avtorji:Markovič-Hribernik, Tanja (Avtor)
Jakopanec, Igor (Avtor)
Datoteke:.pdf Analele_Universităţii_Constantin_Brâncuşi_din_Târgu_Jiu_Seria_Economie_2013_Markovic-Hribernik,_Jakopanec_Are_excessive_legislative.pdf (871,43 KB)
MD5: 3263B7AA7546C7A293F0D20C7FC34A30
 
URL http://www.utgjiu.ro/revista/ec/pdf/2013-01/5_Tanja Markovic Hribernik.pdf
 
Jezik:Angleški jezik
Vrsta gradiva:Znanstveno delo (r2)
Tipologija:1.01 - Izvirni znanstveni članek
Organizacija:EPF - Ekonomsko-poslovna fakulteta
Opis:In this paper, it is investigated whether government, when promises pension fundʼs members a so-called minimum guaranteed return, to reduce the exposure of members to financial risks , should at the same time hinders portfolio diversification process of pension funds. We provide a detailed analysis of the connection between the requirements for providing a minimum guaranteed return and managing financial risks on the one hand and the investment structure of pension funds on the other. We intend to demonstrate with an illustrative case, using the simulation technique and a combination of actual data and some hypothetical one, that by precisely matching the investments' characteristics to the characteristics of the pension fund's liabilities, some important financial risks can even be hedged entirely. We also intend to demonstrate that with the implementation of a proper policy of risk measurement and management, complemented with stress testing practices, excessive legislative restrictions for investments are no longer necessary. At the very least, governments should avoid implementing legislation that hinders the portfolio diversification process and therefore makes pension fund risk management more difficult.
Ključne besede:pension funds, financial risks, minimum guaranteed return, asset-liability management
Leto izida:2013
Št. strani:str. 38-51
Številčenje:št. 1, 2013
ISSN:1844-7007
UDK:336.763.268
COBISS_ID:11387420 Novo okno
ISSN pri članku:1844-7007
NUK URN:URN:SI:UM:DK:IHAYZFNG
Število ogledov:490
Število prenosov:80
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Področja:Ostalo
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Gradivo je del revije

Naslov:Analele Universitǎţii "Constantin Brâncuşi" din Târgu Jiu. Seria Economie
Skrajšan naslov:An. Univ. "Constantin Brâncuşi" Târgu Jiu, Ser. Econ.
Založnik:Academica Brâncuşi
ISSN:1844-7007
COBISS.SI-ID:10074396 Novo okno

Licence

Licenca:CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
Povezava:http://creativecommons.org/licenses/by/4.0/deed.sl
Opis:To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.
Začetek licenciranja:07.07.2017

Sekundarni jezik

Jezik:Slovenski jezik
Ključne besede:pokojninski skladi, donos, tveganje, primerjave, matematična ekonomija, statistične metode


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