Political constraints and trading strategy in times of market stress: Evidence from the chinese national social security fund
| Autor: | Karen L. Benson, Yong Li, Robert W. Faff |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
040101 forestry
050208 finance Financial economics Manager of managers fund 05 social sciences Target date fund 04 agricultural and veterinary sciences Index fund Fund administration Sovereign wealth fund 0502 economics and business Economics 0401 agriculture forestry and fisheries Income fund Trading strategy Finance Investment fund |
| Zdroj: | Finance Research Letters. 19:217-221 |
| ISSN: | 1544-6123 |
| DOI: | 10.1016/j.frl.2016.08.002 |
| Popis: | We analyze the trading behavior of the Chinese National Social Security Fund (CNSSF) – a fund that operates in a highly political environment. With a particular focus on the financial crisis [2007(Q3)-2009(Q1)], we show that the CNSSF adopts a rebalancing strategy that achieves a balance between portfolio liquidity and growth. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|
Full Text from ScienceDirect