VOLUNTARY PRIVATE PENSION FUNDS AND CAPITAL MARKET DEVELOPMENT

dc.authoridTogan Egrican, Asli/0000-0003-0489-6855
dc.authorwosidTogan Egrican, Asli/AAG-7990-2020
dc.contributor.authorTogan Eğrican, Aslı
dc.contributor.authorKayhan, Fatih
dc.date.accessioned2023-10-19T15:12:11Z
dc.date.available2023-10-19T15:12:11Z
dc.date.issued2022
dc.department-temp[Egrican, Asli Togan] Kadir Has Univ, Fac Econ & Adm Sci, Kadir Has Cd, TR-34083 Istanbul, Turkey; [Kayhan, Fatih] Kirklareli Univ, Fac Appl Sci, Kepirtepe located Luleburgaz Campus B Block, TR-39750 Luleburgaz Kirklareli, Turkeyen_US
dc.description.abstractWe examine voluntary private pension funds and their relationship to capital market development. Using data from Turkey, we analyse depth, efficiency and liquidity indicators of capital markets after the introduction of voluntary private pension funds in 2003. Overall, our findings indicate that the introduction of voluntary private pension plans are positively associated with indicators of capital market development, focusing on market depth (such as market capitalisation and trading volume) in both debt and equity markets. We also observe that indicators for other more recently established markets are also positively associated with the introduction of voluntary pension plans. In contrast, equity market turnover shows a negative association. These findings, along with the positive association with the corporate governance index, suggest that pension funds are important for capital market development and for corporate governance of firms as they are long-term investors. However, the introduction of state contributions in 2013 is not robust to alternative specifications.en_US
dc.identifier.citation0
dc.identifier.doi10.21315/aamjaf2022.18.2.9en_US
dc.identifier.endpage240en_US
dc.identifier.issn1823-4992
dc.identifier.issn2180-4192
dc.identifier.issue2en_US
dc.identifier.scopus2-s2.0-85149021965en_US
dc.identifier.scopusqualityQ3
dc.identifier.startpage195en_US
dc.identifier.urihttps://doi.org/10.21315/aamjaf2022.18.2.9
dc.identifier.urihttps://hdl.handle.net/20.500.12469/5368
dc.identifier.volume18en_US
dc.identifier.wosWOS:001010691900009en_US
dc.identifier.wosqualityN/A
dc.khas20231019-WoSen_US
dc.language.isoenen_US
dc.publisherPenerbit Univ Sains Malaysiaen_US
dc.relation.ispartofAsian Academy of Management Journal of Accounting and Financeen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCorporate GovernanceEn_Us
dc.subjectTime-SeriesEn_Us
dc.subjectGrowthEn_Us
dc.subjectReformEn_Us
dc.subjectLiquidityEn_Us
dc.subjectReturnsEn_Us
dc.subjectFinanceEn_Us
dc.subjectCostsEn_Us
dc.subjectCorporate Governance
dc.subjectTime-Series
dc.subjectGrowth
dc.subjectReform
dc.subjectPension fundsen_US
dc.subjectLiquidity
dc.subjectretirementen_US
dc.subjectReturns
dc.subjectcapital market developmenten_US
dc.subjectFinance
dc.subjectdeveloping countriesen_US
dc.subjectCosts
dc.subjectTurkeyen_US
dc.titleVOLUNTARY PRIVATE PENSION FUNDS AND CAPITAL MARKET DEVELOPMENTen_US
dc.typeArticleen_US
dspace.entity.typePublication
relation.isAuthorOfPublication9f750fd2-4927-497c-a6d8-ead17bc9a117
relation.isAuthorOfPublication.latestForDiscovery9f750fd2-4927-497c-a6d8-ead17bc9a117

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