Pension funds, large capital inflows and stock returns in a thin market

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Brzeszczynski, Janusz; Bohl, Martin T.; Serwa, Dobromil;

Using unique data about capital flows from the public social security institute ZUS (Zakład Ubezpieczeń Społecznych) to private pension funds OFEs (Otwarte Fundusze Emerytalne) in Poland, we find that their impact, as a group of large institutional investors, on stock r... View more
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