Tags → portfolio


Regulatory induced herding? Evidence from Polish pension funds
May 15, 2007 09:54

This paper documents herding among pension fund managers in Poland. It finds that penalties for underperformance imposed by the regulator cause fund managers to follow each other’s portfolio choices and pursue similar investment strategies. The paper calls for a reduction in the number of funds, or a review of the relative performance incentive system and current constraints on portfolio allocation.

Social Issues No comments yet
Tags: pension, Poland, portfolio, allocation, investment
Regulation of Bank Capital and Behavior of Banks: Assessing the US and the EU-15 Region Banks in the 2000-2005 Period
January 18, 2008 17:37

The purpose of this paper is to assess and compare how American and European banks adjust their level of capital and portfolio risk under capital regulation, whether and how they react to constraints placed by the regulators. In order to do this, we estimate a modified version of the simultaneous equations model developed by Shrieves and Dahl.

Banking Sector No comments yet
Tags: banks, EU, capital, portfolio