Similar Search Results

Chinese pension fund investment efficiency: Evidence from CNCSSF stock holdings

Lang, Gunnar; Shen, Yu; Xu, Xian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

China's pension system is facing a large gap of more than one trillion RMB. The investment efficiency of the social security fund therefore receives widespread attention in academic circles. We collected data of stocks held by the Chinese National Council for Social Security Fund (CNCSSF) from...

Persistent link: https://www.econbiz.de/10010957688

Politicians' promotion incentives and bank risk exposure in China

Wang, Li; Menkhoff, Lukas; Schröder, Michael; Xu, Xian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2015

This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt-financed programs which are mainly financed via bank...

Persistent link: https://www.econbiz.de/10011269120

Are SRI funds conventional funds in disguise or do they live up to their name?

Nitsche, Christin; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2015

In recent years, the socially responsible investing (SRI) industry has become an important segment of international capital markets by incorporating ESG (Environmental, Social and Governance) factors into investment selection and management processes. This study analyses whether SRI mutual funds...

Persistent link: https://www.econbiz.de/10011269124

Pension funds' performance in strongly regulated industries in Central Europe: Evidence from Poland and Hungary

Bohl, Martin T.; Lischewski, Judith; Voronkova, Svitlana - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper presents an analysis of pension funds' performance in Poland and Hungary, two Central European countries characterized by strong regulation of their private pension fund industries. Thus, the paper extends the literature which has so far mostly focused on performance of pension fund...

Persistent link: https://www.econbiz.de/10008694119

Socially Responsible Investments in Germany, Switzerland and the United States: An Analysis of Investment Funds and Indices

Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003

The aim of this study is the analysis of so called socially responsible investments (SRI). First, the performance of SRI equity investment funds and equity indices is investigated using Jensen´s alpha as performance measure. The analysis considers market timing strategies of the fund management...

Persistent link: https://www.econbiz.de/10005097487

The Benefits of Creating an Integrated EU Market for Investment Funds

Heinemann, Friedrich - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2002

the benefit of private investors. It is argued that the present characteristics of fund distribution channels are mainly …

Persistent link: https://www.econbiz.de/10005097966

Institutional investment in Central and Eastern Europe: investment criteria of Western portfolio managers

Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1999

This study provides detailed evidence on the transistion state of Central and Eastern Europe (CEE) countries. It draws on data from a survey conducted among portfolio managers of Western investment funds thereby making use of the knowledge of experts in CEE markets. The approach of the study is...

Persistent link: https://www.econbiz.de/10005098367

How can pure social discounting be ethically justified?

Buchholz, Wolfgang; Schymura, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

The evaluation of long-term effects of climate change in cost-benefit analysis has a long tradition in environmental economics. Since the publication of the Stern Review in 2006 the debate about the appropriate discounting of future welfare and utility levels was revived and the most renowned...

Persistent link: https://www.econbiz.de/10010957602

Rising wage inequality, the decline of collective bargaining, and the gender wage gap

Antonczyk, Dirk; Fitzenberger, Bernd; Sommerfeld, Katrin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

wage inequality is rising strongly – driven not only by real wage increases at the top of the wage distribution, but also … women at the bottom and at the top of the wage distribution. A sequential decomposition analysis using quantile regression …

Persistent link: https://www.econbiz.de/10008536037

Decreasing wage mobility in Germany

Gernandt, Johannes - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009

distribution. Individual wage mobility decreased between 1984/1987 and 2004/2007, while inequality increased steadily from the mid … 1990s onwards. Mobility is highest in the middle section of the distribution. Better qualified persons, younger persons and … individuals moving downwards in the wage distribution. …

Persistent link: https://www.econbiz.de/10008533544