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Intergenerational risk-sharing and risk-taking of a pension fund
Gollier, Christian (contributor) - 2007
Persistent link: https://www.econbiz.de/10003496853
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Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets
Miles, David; Černý, Aleš - 2001
between funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by …
Persistent link: https://www.econbiz.de/10011398101
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Funded and unfunded pension schemes : risk, return and welfare
Miles, David - 2000
funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different …
Persistent link: https://www.econbiz.de/10009781509
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Mavericks, universal, and common owners : the largest shareholders of U.S. public firms
Amel-Zadeh, Amir; Kasperk, Fiona; Schmalz, Martin C. - 2022
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America's largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of "universal" and...
Persistent link: https://www.econbiz.de/10013365123
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Stock market returns, corporate governance and capital market equilibrium
Parigi, Bruno; Pelizzon, Loriana; Thadden, Ernst-Ludwig von - 2013
This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...
Persistent link: https://www.econbiz.de/10010212666
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Comparative venture capital governance : private versus labour sponsored venture capital funds
Cumming, Douglas J.; MacIntosh, Jeffrey G. - 2003
Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general...
Persistent link: https://www.econbiz.de/10011514156
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Pension benefit insurance and pension plan portfolio choice
Crossley, Thomas F.; Jametti, Mario - 2008
Pension benefit guarantee policies have been introduced in several countries to protect private pension plan members from the loss of income that would occur if a plan was underfunded when the sponsoring firm terminates a plan. Most of these public insurance schemes face financial difficulty and...
Persistent link: https://www.econbiz.de/10003803567
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Can investments in emerging markets help to solve the aging problem?
Holzmann, Robert - 2000
solve the demographic problem. While these investments bring potential advantages through enhanced risk diversification …
Persistent link: https://www.econbiz.de/10009781581
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Risk sharing in defined-contribution funded pension systems
Beetsma, Roel; Alessandro, Bucciol - 2011 - This version: November 9, 2011
This paper explores the introduction of collective risk-sharing elements in defined contri-bution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate … cohorts, but comes at the cost of a reduction in aggregate welfare due to efficiency losses. -- funded pensions ; risk …
Persistent link: https://www.econbiz.de/10009377796
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Intergenerational risk-sharing through funded pensions and public debt
Chen, Damiaan H. J.; Beetsma, Roel; Ponds, Eduard; … - 2014
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt …
Persistent link: https://www.econbiz.de/10010238325