investors' financial conditions affect the management of their portfolios? We address this issue using the insurance industry …

balance sheet behavior of a large class of intermediaries, life insurance companies. The pass-through from assets to equity is …

assesses the relevance of these conflicting incentives for Dutch pension funds and insurance firms over the period 1995 … insurers, indicating that risk management incentives dominate in the Dutch insurance industry. Risk shifting incentives …, however, also seem relevant, as stock insurers take more investment risk than their mutual peers. For Dutch pension funds we …

assesses the relevance of these conflicting incentives for Dutch pension funds and insurance firms over the period 1995 … insurers, indicating that risk management incentives dominate in the Dutch insurance industry. Risk shifting incentives …, however, also seem relevant, as stock insurers take more investment risk than their mutual peers. For Dutch pension funds we …

InvestorLit is a subscription service providing reviews of institutional investment literature. The reviews cover a … wide range of investment topics and are published online. Bruce Grantier, founder of InvestorLit, is a member of the … pieces. The opinions expressed here are those of InvestorLit.Behavioral Finance and Investment Management, a 180-page book …

investment in emerging markets is greater than that in developed markets, reflecting vast opportunity. Yet, the indices (and ETFs …

This paper contrasts the investment behavior of different financial institutions in debt securities as a response to … Statistics. Banks and investment funds respond in a pro-cyclical manner to past security-specific holding period returns. In … contrast, insurance companies and pension funds act counter-cyclically; they buy when returns have been negative and sell after …