Naslov
Efficiency of different Pension Fund Investment Regulation Models

Autori
Štimac Dubravko ; Orsag Silvije ; Dedi Lidija

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the Forty-Fourth Annual Meeting Western Decision Sciences Institute / Bell John - : Western Decision Sciences Institute, 2015

Skup
Western Decision Sciences Institute Forty-Fourth Annual Meeting

Mjesto i datum
Maui (HI), Sjedinjene Američke Države, 31.03.2015. - 03.04.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Pension Funds; Investment Regulation Systems

Sažetak
The Article presents a comparison of performances achieved by different funds applying different investment regulation systems with the aim of determining which system produces better results. The regulation system, which prescribes numerous strict quantitative investment limits as well as types of investments that the funds are allowed and not allowed to make, is applied by the Croatian mandatory pension funds. On the other hand, Croatian openended balanced mutual funds apply a system which ensures less strict investment limits and, in fact, indicates a tendency towards the application of the prudent person approach. By comparing performances achieved by the above-mentioned types of funds, which are actually very similar in terms of the asset classes they invest in but differ with regards to their investment policies defined by the regulator, we will try to establish which investment regulation system was more efficient, i.e. which system ensured the investors a more favorable risk-return profile during the observed period.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA