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Pension Fund Economics and Finance: Efficiency, Investments and Risk-Taking book cover

1st Edition

Pension Fund Economics and Finance Efficiency, Investments and Risk-Taking

Edited By Jacob Bikker Copyright 2018
272 Pages
by Routledge

272 Pages 22 B/W Illustrations
by Routledge

272 Pages 22 B/W Illustrations
by Routledge
Also available as eBook on:
Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is... Read more

Table of Contents















        1. Introduction, J.A. Bikker






          2. Part 1: Efficiency





        2. Is there an optimal pension fund size? A scale-economy analysis of administrative and investment costs, J.A. Bikker,






        3. The impact of scale, complexity, and service quality on the costs of pension funds: A cross-country comparison, J.A. Bikker, O.W. Steenbeek, F. Torracchi






        4. Cost differences between pension funds and life insurers in providing pensions, J.A. Bikker






          5. Part 2: Investments behavior and risk-taking





        5. The eligibility of emerging market bonds for pension fund portfolios, L. Spierdijk and Z. Umar.






        6. Mean reversion of stock prices and its impact on pension fund investment policies, L. Spierdijk, J.A. Bikker.






        7. Pension fund investment policy, risk taking, ageing and the life cycle hypothesis, J.A. Bikker, D. Broeders, D. Hollanders, E. Ponds,






        8. Investor sophistication and risk taking, J. de Dreu, J.A. Bikker.






        9. Investment risk-taking of institutional investors, J.K. Gorter, J.A Bikker.






          10. Part 3: Risk-taking and regulation





        10. Measuring and explaining implicit risk sharing in defined benefit pension funds, J.A. Bikker, T. Knaap, W. Romp,




(11) Utility-equivalence of pension security mechanisms, D.W.G.A. Broeders, An Chen, and Birgit Schnorrenberg

Biography

Jacob Bikker is professor of Banking and Financial Regulation, School of Economics, Utrecht University, Netherlands and senior researcher at the Strategy Department, Supervisory Policy Division, De Nederlandsche Bank (DNB). His research interests include financial institutions, competition, efficiency and optimal scale. He has published many papers on efficiency and optimal scale of pension funds in journals such as Journal of Pension Economics and Finance, Journal of Risk and Insurance, and Applied Economics.

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