de Haan, Leo; Kakes, Jan - In: Journal of Banking & Finance 35 (2011) 9, pp. 2245-2251
This paper analyses investment strategies of three types of Dutch institutional investors - pension funds, life insurers and non-life insurers - over the period 1999-2005. We use balance sheet and cash flow data, including purchases and sales of equity, fixed income and real estate. We trace...