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Does Regulation Hurt Pension Funds' Performance? Evidence from Strongly Regulated Pension Fund Industries

Martin T. Bohl, Judith Lischewski and Svitlana Voronkova

Abstract This paper presents an analysis of pension funds’ performance in Poland and Hungary as representative Eastern Central European countries. In the theoretical literature it is argued that investment limits and performance regulations may have a negative influence on the performance of funds. In particular for Poland, our empirical findings do not support this prediction. Consequently, strict regulations do not necessarily harm the performance of the pension funds.

JEL classification:

G23, G28


Pension fund management, investment and performance regulation, performance measurement,
Eastern Central European stock markets, Emerging Markets.

Last updated 28 August 2014 by IIIS (Email).