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Autre publication scientifique Année : 2014

Pension Regulation and Investment Performance: Rule-Based vs. Risk-Based

Résumé

We investigate the relationship between rule-based versus risk-based regulatory choices in different countries and the real investment performance of their pension funds. Pension systems in countries with more mature risk-based regulatory regimes tend to demonstrate superior investment performance. The benefit of implementing risk-based regulation is more pronounced in countries with low regulatory quality. The core of rule-based regulations, i.e., quantitative investment limits, has no significant impact on the Sharpe ratio of pension investment returns.
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Dates et versions

halshs-00959688, version 1 (15-03-2014)

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  • HAL Id : halshs-00959688 , version 1

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Ling Ni Boon, Marie Brière, Carole Gresse, Bas J.M. Werker. Pension Regulation and Investment Performance: Rule-Based vs. Risk-Based. 2014. ⟨halshs-00959688⟩
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Dernière date de mise à jour le 20/04/2024
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