Pension Funds, Insurance Companies and Stock Market Development: Evidence from Emerging Markets

Bayar, Yılmaz; Gavriletea, Marius Dan; Dănuleţiu, Dan; Dănulețiu, Adina Elena; Sakar, Emre

doi:10.3390/math10132335

Cited by 4 publications

(2 citation statements)

References 53 publications

(96 reference statements)

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“…The interest for analyzing the impact of institutional investors on stock market development occurred in the early 90s of the previous century. As it was mentioned in the paper of Bayar, et al (2022), institutional investors improve the performance of the financial markets because they increase the market efficiency, stimulate the competition, especially in the banking sector and are considered long-term capital source. However, the literature that analyzes the relationship between the insurance companies and the capital markets is limited.…”

Section: Review Of the Literature For The Relationship Between Insura...mentioning

confidence: 99%

The Importance of Insurance Companies for the Capital Market Development and Economic Growth in North Macedonia

Mitreva

2023

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In this paper, through regression analysis the effect of the insurance sector on the economic growth and the capital market in N. Macedonia was analyzed for the period 2014-2022. The main variables used in the analysis were GDP, Stock Market Capitalization, Bond Market Capitalization and Assets of Insurance Companies. Hence, considering the participation of 1.54% of the insurance sector in the N. Macedonian GDP, as well as the asset allocation of the insurance companies, the obtained results were according to the expectations. On one hand, the insurance companies showed negative effect on GDP, which may be due to the very low participation in the total GDP, but they showed positive effect on the stock market capitalization. Additionally, bidirectional causality with positive effect was determined between the GDP and Stock Market Capitalization.

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Section: Review Of the Literature For The Relationship Between Insura...mentioning

confidence: 99%

The Importance of Insurance Companies for the Capital Market Development and Economic Growth in North Macedonia

Mitreva

2023

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“…(Barigou et al, 2020). The relationship between the insurance sector and stock market development have investigated by (Bayar et al, 2022). The government's health-related subsidies and pension fund withdrawals have partially contributed to the formal labor shortage in the construction industry.…”

Section: A Introductionmentioning

confidence: 99%

Employee Benefits Program Valuation with Multiple Decrement Model Based on PSAK 24 Post-COVID-19 Pandemic

Ekasasmita,

Rahmi,

Iskandar

2024

JTAM

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In this article, we evaluate the post-labor compensation program based on PSAK-24 in the new normal era of the COVID-19 pandemic. In order to create a table multiple decrements based on a single table decrement namely, death, withdrawal, total permanent disability, and retirement. In the new normal era of the COVID-19 pandemic, the benefits of death, death caused by COVID-19, withdrawal, total permanent disability, and retirement were then aggregated. The method used in this study is a quantitative method with a case study approach of COVID-19. The data used is secondary data on the number of COVID-19 positive cases in Indonesia from January 2021 to December 2022. In this study, an actuarial model, the Multiple Decrement Model, was applied to calculate the valuation of the post-labor compensation program based on PSAK-24 using five decrements as the cause of claims consisting of death, death cause of COVID-19, withdrawal, total permanent disability and retirement. The calculation results that can be seen that large annual net premiums multiple decrement cases that provide benefits according to the cause of failure getting bigger as that person gets older.

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Development Trends of Georgian Capital Market and Pension Fund

Emzar Jgerenaia,

Maka Ghaniashvili

2024

RS Global - IJITE

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Since January 2019, a cumulative pension system has been launched in Georgia. The reform’s main goals are reducing fiscal pressure and ensuring a "decent" pension at retirement age. In addition, the possible positive impact of the accumulated pension fund on the capital market of Georgia is important. The purpose of the paper is to analyze the current reality of the capital market of Georgia. In order to determine what opportunities it creates in the investment process of the Georgian pension agency. During the research, we mainly used statistical analysis methods. The discussion is based on indicators such as: composition of total debt of non-financial companies in Georgia; liquidity and activity on the Georgian stock exchange; total balance of corporate bonds denominated in GEL; the ratio of the total capitalization of the stock market; assets of the Georgian pension agency and its investment portfolio. Due to research findings, although there is a lack of institutional investors in the financial markets of Georgia, there are no existing securities in the local market, which would allow the pension agency to make more investments in the local capital market. Growth at such a rate requires investing in assets with a higher risk than the existing ones. In particular, since the capital market assets have a higher rate of return, it is important for the policy of the pension agency to either increase the limits for investing in the foreign market, or to be more opportunities and alternatives in the local capital market.

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Pension Funds, Insurance Companies and Stock Market Development: Evidence from Emerging Markets

Cited by 4 publications

References 53 publications

The Importance of Insurance Companies for the Capital Market Development and Economic Growth in North Macedonia

The Importance of Insurance Companies for the Capital Market Development and Economic Growth in North Macedonia

Employee Benefits Program Valuation with Multiple Decrement Model Based on PSAK 24 Post-COVID-19 Pandemic

Development Trends of Georgian Capital Market and Pension Fund

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