This paper deals with the principal-agent relationships involved by the management of pension funds. The focus is made on private defined benefit pension funds in the US. We first underline the main characteristics of management and financial pension policy. We then identify the principal-agent...

The asset allocation principles to be followed by pension funds have recently recorded some important modifications on the international level. Canadian pension funds have also been subject to these evolutions. The main modifications concern the gradual elimination of some portfolio constraints,...

Economic Analysis of Law versus Institutionnalism. A “in situation” comparison This paper compares two approaches of law economics concerning the same empirical object - the United States employees savings schemes – on one hand within the framework of mainstream Law and Economics and on...

Since ten years, an increasing proportion of pension funds faces to severe financial difficulties, addressing some questions about the management of these institutions and the effectiveness of the regulatory framework. This thesis aims to analyze the investment decisions and financial risk...

L'auteur montre pourquoi le système des fonds de pension américain ne peut pas être introduit en France. Devant concilier à la fois la protection sociale et la spéculation financière, il repose sur un régime de propriété typiquement anglo-saxon, le trust. L'auteur analyse ce régime et...

Elective affinity seems to link reform of retirement, development of long-term investments and SRI next decades. They so suggest the possibility of an endogenous evolution of financial capitalism which would become more favourable to a long term perspective, without departing from the principle...

Le pouvoir financier des salariés au moyen de leur épargne dans les fonds de pension est ici évalué au vu des règles juridiques qui régissent ces dispositifs.