Investment strategies of sovereign wealth funds: the potential and challenges of empirical research

IF 2 Q2 BUSINESS, FINANCE Journal of Financial Regulation and Compliance Pub Date : 2023-03-08 DOI:10.1108/jfrc-09-2022-0115
A. K. Alosaimi, Mishari M. Alfraih
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Abstract

Purpose The purpose of this paper is to explore and evaluate the main segments of existing empirical literature related to Sovereign Wealth Funds (SWFs) and provide a thorough investigation of their research questions, theoretical frameworks, data selections and research methodologies. Design/methodology/approach The literature on SWFs has been split into three main streams: qualitative studies with theoretical contributions aiming to conceptualize the phenomenon of SWFs; normative assessments of the optimal asset allocations of SWFs; and empirical works that aim to investigate different perspectives of SWFs. The paper attempts to review the state of existing literature relating to these areas by answering specific questions. Findings Despite their significant size and potential impact, the literature on SWFs seems to be still in its infancy. The paper collects insights from previous literature, addresses its difficulties and challenges. Research limitations/implications The characteristics of the previous empirical literature and the challenges facing this line of research offer an insightful thought for the future research works in this topic. Originality/value The paper offers a thorough assessment of the existing empirical research on SWFs and shade some light on the techniques and procedures used.
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主权财富基金的投资策略:实证研究的潜力和挑战
目的本文旨在探索和评价现有与主权财富基金相关的实证文献的主要部分,并对其研究问题、理论框架、数据选择和研究方法进行深入调查。设计/方法论/方法关于主权财富基金的文献分为三大主流:旨在概念化主权财富基金现象的定性研究和理论贡献;对主权财富基金最佳资产配置的规范性评估;以及旨在调查主权财富基金不同观点的实证工作。本文试图通过回答具体问题来回顾与这些领域相关的现有文献的现状。发现尽管主权财富基金规模巨大,潜在影响巨大,但有关主权财富基金的文献似乎仍处于初级阶段。本文收集了以往文献中的见解,阐述了其困难和挑战。研究局限性/含义以往实证文献的特点和这一研究领域面临的挑战为未来该主题的研究工作提供了深刻的思考。原创性/价值本文对现有的主权财富基金实证研究进行了全面评估,并对所使用的技术和程序进行了一些说明。
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来源期刊
CiteScore
2.60
自引率
11.10%
发文量
35
期刊介绍: Since its inception in 1992, the Journal of Financial Regulation and Compliance has provided an authoritative and scholarly platform for international research in financial regulation and compliance. The journal is at the intersection between academic research and the practice of financial regulation, with distinguished past authors including senior regulators, central bankers and even a Prime Minister. Financial crises, predatory practices, internationalization and integration, the increased use of technology and financial innovation are just some of the changes and issues that contemporary financial regulators are grappling with. These challenges and changes hold profound implications for regulation and compliance, ranging from macro-prudential to consumer protection policies. The journal seeks to illuminate these issues, is pluralistic in approach and invites scholarly papers using any appropriate methodology. Accordingly, the journal welcomes submissions from finance, law, economics and interdisciplinary perspectives. A broad spectrum of research styles, sources of information and topics (e.g. banking laws and regulations, stock market and cross border regulation, risk assessment and management, training and competence, competition law, case law, compliance and regulatory updates and guidelines) are appropriate. All submissions are double-blind refereed and judged on academic rigour, originality, quality of exposition and relevance to policy and practice. Once accepted, individual articles are typeset, proofed and published online as the Version of Record within an average of 32 days, so that articles can be downloaded and cited earlier.
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