Performance of Pension Funds and Stable Growth Open Investment Funds During the Changes in the Polish Retirement System
Journal Title: Dynamic Econometric Models - Year 2016, Vol 16, Issue
Abstract
The conditions of the pension funds (OFE) functioning were essentially changed in the years 2011–2014. The aim of the paper is to find out if these modifications influence the efficiency of the pension funds and to compare the performance of these funds to stable growth open investment funds (FIO). The analysis is provided for selected funds in the years 2009–2015. We conclude that in the examined period, OFE performed better than FIO, and the modifications of the rules for the pension funds caused the increase of risk and decrease of investment efficiency of these funds’ portfolios.
Authors and Affiliations
Krzysztof Kompa, Dorota Witkowska
Keywords
Related Articles
- EP ID EP197229
- DOI 10.12775/11743
- Views 86
- Downloads 0
Determinants of Foreign Direct Investment in Developed and Emerging Markets
We analyzed FDI determinants for 26 developed economies and 25 emerging markets. The analysis was conducted using a panel regression model for the period 1996–2014 as well as macroeconomic and institutional variables. Gr...
Microeconometric Analysis of Telecommunication Services Market with the use of SARIMA Models
The paper presents the results of testing the effectiveness of the multi sectional model in the short-term forecasting of hourly demand for telephone services. The model was based on the integration of the linear regress...
Discrete Spectral Analysis. The Case of Industrial Production in Selected European Countries
The aim of this paper is to show the usefulness the discrete spectral analysis in identification cyclical fluctuations. The subsampling procedure was applied to construct the asymptotically consistent test for Fourier co...
An Econometrical Analysis of Entrepreneurship Determinants in Polish Voivodeships in the Years 2004–2013
This article presents research results and describes and clarifies differences in a level of the entrepreneurship index observed between Polish voivodeships in the period from 2004 to 2013. The expected results were conf...
Modeling of Dynamic Spatial Processes
The paper is concerned with econometric modeling of the dynamic spatial processes on the example of the GDP per capita in selected European countries. The considerations of the paper are focused on investigations of the...