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The effect of longevity risks on the performance of stock market

Title
The effect of longevity risks on the performance of stock market
Authors
Choi H.-S.
Ewha Authors
최형석
SCOPUS Author ID
최형석scopus
Issue Date
2017
Journal Title
Investment Management and Financial Innovations
ISSN
1810-4967JCR Link
Citation
Investment Management and Financial Innovations vol. 14, no. 1, pp. 173 - 180
Keywords
Aging societyGDP growthPension fundStock market performance
Publisher
LLC CPC Business Perspectives
Indexed
SCOPUS scopus
Document Type
Article
Abstract
In this study the author examines the effect of the speed of population aging on the financial markets in 11 OECD (The Organisation for Economic Co-operation and Development) countries after controlling the proportion of labor population, the growth rate of real GDP (Gross Domestic Product), the rate of increasing productivity, inflation rate, and the rate of increasing scale of pension market. The author finds that the performance of stock market is affected by complex factors including increasing of average life expectancy, the growth rate of real GDP, the rate of increasing productivity, the inflation rate, the earning rate of stock market and the rate of increasing scale of pension market. Especially, the proportion of economically active people is the most significant factor to explain the stock market performance. Considering the decreasing proportion of economically active people in aging societies, the decrease of productivity and eventually the decrease of earnings from financial markets would be expected. © Hyung-Suk Choi, 2017.
DOI
10.21511/imfi.14(1-1).2017.03
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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