We have developed a structural model to explain defined benefit (DB) pension funds' investment behaviour. The model is calibrated to the aggregate UK DB pension fund and four different cohorts of funds. We use the model to estimate how pension funds can be expected to adjust their asset...

Introduction -- Chapter I: The Early American Corporation -- Chapter II: Adolf Berle and the Modern Corporation -- Chapter III: The Rise of Asset Manager Capitalism -- Chapter IV: The Emergence of the Shareholder Primacy Paradigm -- Chapter V: The New Stakeholder Capitalism and ESG -- Chapter...

1. The Foundations of Capitalism: Beneficiary Asset Managers -- 2. Unleashing Innovation through Better Governance -- 3. Unleashing Innovation through People -- 4. Unleashing Innovation through Collaboration -- 5. Unleashing Locational Advantage -- 6. The Valley of Opportunity: Bringing...