We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...

This study provides new evidence on the impact of governance on the performance of privately defined contribution pension plans. Using a hand collected data set on governance factors, the study shows that the external and internal governance mechanisms in pension plans are weak. One explanation...

Despite the importance and popularity of the stewardship concept in the current management literature, antecedents and the role of the surrounding framework of stewardship remains poorly understood. Similarly, relatively little is known about the outcomes of stewardship. In this study I set out...