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|c 5.00 USD
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|z 9781484336083
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Papaioannou, Michael.
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|a Procyclical Behavior of Institutional Investors During the Recent Financial Crisis :
|b Causes, Impacts, and Challenges /
|c Michael Papaioannou, Joonkyu Park, Jukka Pihlman, Han Hoorn.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2013.
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|a 1 online resource (53 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the global financial crisis; (ii) identifies the main factors that could account for such behavior; (iii) discusses the implications of procyclical behavior; and (iv) proposes a framework for sound investment practices for long-term investors. Such procyclical investment behavior is understandable and may be considered rational from an individual institution's perspective. However, our main conclusion is that behaving in a manner consistent with longterm investing would lead to better long-term, risk-adjusted returns and, importantly, could lessen the potential adverse effects of the procyclical investment behavior of institutional investors on global financial stability.
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|a Mode of access: Internet
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|a Hoorn, Han.
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|a Park, Joonkyu.
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|a Pihlman, Jukka.
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|a IMF Working Papers; Working Paper ;
|v No. 2013/193
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2013/193/001.2013.issue-193-en.xml
|z IMF e-Library
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