An Analysis of the Correlation between Size and Performance of Private Pension Funds
Using present performance measures, we find that inflation rate is barely covered by Romanian private pension funds strategies. The paper looks at effects of scale on performance. This issue is investigated empirically using data from Romanian private pension funds. We find results consistent with p...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2011-03-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/574.pdf
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| _version_ | 1818057737764864000 |
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| author | Vasile ROBU Maria Iuliana SANDU |
| author_facet | Vasile ROBU Maria Iuliana SANDU |
| author_sort | Vasile ROBU |
| collection | DOAJ |
| description | Using present performance measures, we find that
inflation rate is barely covered by Romanian private pension funds
strategies. The paper looks at effects of scale on performance. This issue
is investigated empirically using data from Romanian private pension
funds. We find results consistent with prior literature in that size,
measured as total net assets, erodes performance. The highly regulated
Romanian private pension environment gives rise to various
interpretations for size detracting performance that do not sprout from
the “asymmetric information” theory. We explain the empirical results as
an effect of “perfect scaling”. |
| first_indexed | 2024-12-10T12:49:30Z |
| format | Article |
| id | doaj.art-dfd8187c0d2f4d1fbbaa35537d82dc0e |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-10T12:49:30Z |
| publishDate | 2011-03-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-dfd8187c0d2f4d1fbbaa35537d82dc0e2022-12-22T01:48:19ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292011-03-01XVIII310711618418678An Analysis of the Correlation between Size and Performance of Private Pension FundsVasile ROBU0Maria Iuliana SANDU1 Bucharest Academy of Economic Studies Bucharest Academy of Economic Studies Using present performance measures, we find that inflation rate is barely covered by Romanian private pension funds strategies. The paper looks at effects of scale on performance. This issue is investigated empirically using data from Romanian private pension funds. We find results consistent with prior literature in that size, measured as total net assets, erodes performance. The highly regulated Romanian private pension environment gives rise to various interpretations for size detracting performance that do not sprout from the “asymmetric information” theory. We explain the empirical results as an effect of “perfect scaling”. http://store.ectap.ro/articole/574.pdf performancescaleprivate pension marketpanel dataperfect scaling |
| spellingShingle | Vasile ROBU Maria Iuliana SANDU An Analysis of the Correlation between Size and Performance of Private Pension Funds Theoretical and Applied Economics performance scale private pension market panel data perfect scaling |
| title | An Analysis of the Correlation between Size and Performance of Private Pension Funds |
| title_full | An Analysis of the Correlation between Size and Performance of Private Pension Funds |
| title_fullStr | An Analysis of the Correlation between Size and Performance of Private Pension Funds |
| title_full_unstemmed | An Analysis of the Correlation between Size and Performance of Private Pension Funds |
| title_short | An Analysis of the Correlation between Size and Performance of Private Pension Funds |
| title_sort | analysis of the correlation between size and performance of private pension funds |
| topic | performance scale private pension market panel data perfect scaling |
| url |
http://store.ectap.ro/articole/574.pdf
|
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