Efficiency in Pension Funds Management in a QE Environment: The Case of Spain

Efficiency in Pension Funds Management in a QE Environment: The Case of Spain

This study analyzes the efficiency in the management of pension funds in Spain through a representative portfolio of core values where pension fund managers invest in. Through econometric techniques and using a model rooted in the tradition of mean-variance models, the existence of inefficient manag...

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Veröffentlicht in:Estudios de economía aplicada 2015-09, Vol.33 (3), p.687-700
Hauptverfasser: Santacruz Cano, Javier, BERNAL ALONSO, MIGUEL ÁNGEL
Format: Artikel
Sprache:eng
Schlagworte:
Econometrics
Efficiency
eficiencia
Finanzas Cuantitativas
Funds management
Gestión
Monetary Policy
Pension fund management
Pension funds
pensiones
Pensions
política monetaria
Quantitative Finance
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Zusammenfassung:This study analyzes the efficiency in the management of pension funds in Spain through a representative portfolio of core values where pension fund managers invest in. Through econometric techniques and using a model rooted in the tradition of mean-variance models, the existence of inefficient management and portfolio composition is observed, at a time of profound changes in European pension systems.
ISSN:1133-3197
1697-5731
1697-5731