THE INSTITUTIONAL INVESTORS’ BEHAVIOUR UNDER THE IMPACT OF THE GLOBAL FINANCIAL CRISIS

Pirtea Marilen, Barna Flavia and Miruna Nachescu
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Pirtea Marilen: WEST UNIVERSITY OF TIMISOARA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, TIMISOARA, ROMANIA
Barna Flavia: WEST UNIVERSITY OF TIMISOARA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, TIMISOARA, ROMANIA

Annals - Economy Series, 2013, vol. 1, 285-292

Abstract: On the subject of financial globalization a lot of literature has been written, annalyzing all sorts of effects it had. Still, the changes induced by globalization at the level of the financial markets are not always clear. The veritable flooding of capitals, constantly moving, created a continuous game of investment opportunities, of arbitration possibilities and funding sources, made institutional investors adopt various attitudes, the role of institutional investors in the activation of capital markets being sustained by the financial globalization and the extension of multinational financial groups, on one side, and by the increased performance of the share and bond markets, on the other side. By the present paper, we propose to underline the behaviour of the main institutional investors (mutual funds, pension funds and hedge funds) under the impact of the current global financial crisis, the modifications which intervened in asset assignment and investment relocation, showing that the instability generated in the global financial system had immediate effects on all the portfolios of institutional investors, regardless of their classification category.Under conditions of capital flow increase, adjusted by the global financial crisis, the presented analysis and empirical proofs show a tendency of institutional investors’ asset reallocation on developed markets and the withdrawal from the emergent ones.

Keywords: institutional investors; mutual funds; pension funds; hedge funds; financial crisis (search for similar items in EconPapers)
Date: 2013
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