haku: @author Scott, A. / yhteensä: 28
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| Tekijä: | Dinenis, E. Scott, A. |
| Otsikko: | What determines institutional investment? An examination of UK pension funds in the 1980s |
| Lehti: | Oxford Economic Papers
1993 : APR, VOL. 45, p. 292-310 |
| Asiasana: | INSTITUTIONAL INVESTORS INVESTMENTS UNITED KINGDOM PENSION FUNDS |
| Kieli: | eng |
| Tiivistelmä: | UK pension funds account for 38% of personal sector net financial wealth and are a major investor in UK domestic asset markets. This paper analyses the investment behaviour of the UK pension fund industry between 1980 and 1988. The authors provide a stable explanation for this behaviour and find that pension funds satisfy the requirements of portfolio theory. Their estimates enable the authors to calculate the responsiveness of asset demands to changes in rates of return and wealth, most of which are intuitively plausible. |
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