Pension funds – main institutional investor on the Romanian capital market?

Laura Raisa Milos and Carmen Corduneanu
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Laura Raisa Milos: „Eftimie Murgu” University, Faculty of Economic and Administrative Sciences, Reşiţa, Romania

Timisoara Journal of Economics, 2011, vol. 4, issue 2(14), 105-110

Abstract: In this article, the authors emphasize the very important role that institutional investors, under the form of pension funds, hold for the development of capital markets existing in the economy and for supporting the financing process of institutional sectors in the financing deficit situation. This important role is due mainly to the fact that they hold liabilities payable on a long term that assumes that they can finance the economy on a long term. Moreover, the regulations of the private pension system in each country assumes the mandatory idea of directing part of the private saving held by pension funds to the local capital markets. This thing transforms pension funds into very important players on the capital market, supporting it continuously. The authors realize a short presentation of the main theoretical and empirical studies supporting this is made, as well as a personal analysis of the connection between pension funds and the Romanian capital market development.

Keywords: capital market; institutional investors; pension funds; reform; Romania (search for similar items in EconPapers)
JEL-codes: G10 G22 G23 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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