Plausibly Exogenous [743] - Pension Reform (01/31/2022)
LHS Variable
Stock market return dynamics
RHS Variable
Institutional investors
Source of Exogenous Variation
Polish pension system reform in 1999, which led to an associated increase in institutional ownership
- Bohl, Brzeszczynski, and Wilfling (2009), “Institutional investors and stock returns volatility: Empirical evidence from a natural experiment”