THE EFFECT OF ASYMMETRIC INFORMATION ON THE ACTIVITIES OF NON-STATE PENSION FUNDS IN UKRAINE Cover Image

ВЛИЯНИЕ НА ИНФОРМАЦИОННАТА АСИМЕТРИЯ ВЪРХУ ДЕЙНОСТТА НА НЕПРАВИТЕЛСТВЕНИТЕ ПЕНСИОННИ ФОНДОВЕ В УКРАЙНА
THE EFFECT OF ASYMMETRIC INFORMATION ON THE ACTIVITIES OF NON-STATE PENSION FUNDS IN UKRAINE

Author(s): Dmytro Leonov, Bogdan Stetsenko
Subject(s): Economy, Welfare services, Financial Markets
Published by: Стопанска академия »Д. А. Ценов«
Keywords: pension funds;information;information asymmetry;pension assets;investment;G230;G140;

Summary/Abstract: This paper considers the impact of information asymmetry on the activities of non-government pension funds in Ukraine. Based on the established model of non-governmental pensions in Ukraine, it looks at peculiarities in the formation of information flows in the operation of non-government pension funds (NPF). It has been determined that information asymmetry has the most significant effect on the activities of Ukrainian NPF at two levels: first, in the context of access to information for current and potential members of non-governmental pension provision; secondly, due to the low transparency of the corporate sector, which reduces thepossibility of the efficient investment of pension assets. It has also been established that overcoming information asymmetries in the market of non-government pensions is possible only if government regulatory efforts are synchronized and effective financial communication at the level of the NPF is implemented for issuers of securities and other market participants.

  • Issue Year: 24/2014
  • Issue No: 3
  • Page Range: 36-57
  • Page Count: 21
  • Language: Bulgarian