时间：2022年02月23日  15:30-17:00

线下地点：北师大珠海校区励教楼E106会议室

线上腾讯会议ID：427441807

主题：Why Are Pension Schemes Frozen, and How Does a Freeze Affect the Employer’s Risk?

主讲人：北京师范大学一带一路学院赵祖成 博士后

主办单位：北京师范大学一带一路学院

主讲人简介：

赵祖成，英国雷丁大学亨利商学院 ICMA中心金融学博士，北京师范大学一带一路学院博士后，由博士学习期间开始研究中国以及英国的固定收益型养老金的资产配置，已发表多篇SSCI收录学术论文。

内容简介：

Defined Benefit (DB) pension schemes involve substantial risks and costs for employers. So employers have frozen (or closed) their schemes. Using data on firms in the UK FTSE 100 index, we study the characteristics of employers who hard froze (no new members or accruals) their DB scheme, and the effect of a hard freeze on the employer’s risk. We find that the probability of a hard freeze is a negative function of employer size, operating cash flow, and unionization; and a positive function of a previous soft freeze. A hard freeze reduces total, unsystematic and credit risk; and increases systematic and asset risk.