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Rehabilitating the Role of Active Management for Pension Funds
Aglietta, Michel; Brière, Marie; Rigot, Sandra; … - Université Paris-Dauphine (Paris IX) - 2012
Pension fund return s can be decomposed into different sources, including market movements, asset allo-cation policy, and active portfolio management. We use a unique database covering the asset allocations of US defined-benefit pension funds for the perio d 1990–2008, and we test the role...
Persistent link: https://www.econbiz.de/10011074042
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Does Regulation Matter? Riskiness and Procyclicality of Pension Asset Allocation
Brière, Marie; Boon, Ling-Ni; Rigot, Sandra - Université Paris-Dauphine (Paris IX) - 2014
underscore the economic importance of regulation in the funds’ asset allocation choices, relative to institutional and individual …
Persistent link: https://www.econbiz.de/10010812471
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Equal opportunity rule vs. market rule in transfer of control: How can private benefits help to provide an answer?
de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2013
Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...
Persistent link: https://www.econbiz.de/10010735780
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The equal opportunity rule in transfer of control : a signaling model
de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2009
The equal opportunity rule is seen as protecting investors in the event of a transfer of control. In order to better analyze the consequence of such a rule, we need to account for the information asymmetry that exists between new controlling shareholders and outside investors with private...
Persistent link: https://www.econbiz.de/10010706677
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Privatization and governance regulation in frontier emerging markets: The case of Romania
Pop, Diana; Pop, Adrian; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2010
We investigate the link between the regulation of control transactions and the institutional and corporate features of …
Persistent link: https://www.econbiz.de/10010708206
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Is Transparency a Value on OTC Markets? Challenging Industry Registers to Escape Categorization
Huault, Isabelle; Rainelli, Hélène - Université Paris-Dauphine (Paris IX) - 2014
. We approach this question through a qualitative study of the heated debate over the new regulation of over …
Persistent link: https://www.econbiz.de/10011082485
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Sociétés de gestion de portefeuille : un triple problème de gouvernance
Moussavou, Jean - Université Paris-Dauphine (Paris IX) - 2008
Selon le principe de la muraille de Chine, les activités de gestion doivent pouvoir s’organiser de manière totalement indépendante des activités du dépositaire. En pratique, le principe de cloisonnement entre les activités du dépositaire et celles de la SGP peut apparaître comme une...
Persistent link: https://www.econbiz.de/10011166353
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Sociomaterial regulation in organizations: The case of information technology
de Vaujany, François-Xavier; Fomin, Vladislav; … - Université Paris-Dauphine (Paris IX) - 2013
. Recent scandals in the financial industry exposed overconfidence in IT based regulation and, as scholars of regulation have … with a broad perspective we define sociomaterial regulation as the relationships between the rules, the IT artifacts, and … modalities of sociomaterial regulation which can be understood using the three relationships: functionality-, tool-, role …
Persistent link: https://www.econbiz.de/10010757430
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De la "Pension Governance" à la "Corporate Governance": la transmission d'un mode de gouvernement
Montagne, Sabine - Université Paris-Dauphine (Paris IX) - 2001
corporate governance can be viewed as a consequence of the pension industry reorganisation which occured in the 1970s and 1980s in so far as corporate governance borrows the same organisational principles.
Persistent link: https://www.econbiz.de/10011072666
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Efficacité des structures de contrôle et enracinement des dirigeants
Alexandre, Hervé; Paquerot, Mathieu - Université Paris-Dauphine (Paris IX) - 2000
In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...
Persistent link: https://www.econbiz.de/10010861596