Governance of Public Pension Funds : Lessons from Corporate Governance and International Evidence

• Tác giả: David Hess
• Ngôn ngữ: eng
• Ký hiệu phân loại: 341.26 +States
• Thông tin xuất bản: World Bank, Washington, DC, 2014
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 292505
• Chủ đề: 1. ADMINISTRATIVE COSTS; 2. ADVERSE SELECTION; 3. AGENCY PROBLEMS; 4. ASSET DIVERSIFICATION; 5. ASSETS

Tóm tắt

An understanding of corporate governance theory can promote the adoption of appropriate governance tools to limit agency problems in public pension fund management. The absence of a market for corporate control hinders the translation of lessons from the private sector corporate world to public pension governance. The establishment of a fit, and proper governing body for public pension funds, thus may be even more important than the maintenance of a comparable body for private sector corporations. In particular, behavioral controls should be carefully designed.