Financial supervisors are increasingly expected to be able to demonstrate the effectiveness of their actions. In practice, however, this proves challenging as it is difficult to prove the causality between supervisory actions and observed effects. In this paper we describe four lessons that help...

This paper identifies the key factors driving indexation in turbulent economic times within defined benefit plans using a unique panel dataset of 166 Dutch pension funds from 2007 to 2010. Key drivers of indexation are the funding ratio, inflation and real wage growth. The type of pension fund...

Purpose: Reaching decisions in a deliberative manner is of utmost importance for boards, as their decision-making impacts entire organisations. The current study aims to investigate (1) the quality of group decisions made by board members, (2) their confidence in, satisfaction with, and...

Good Supervision and its Limits in the Post-Lehman Era -- Managing the Quality of Financial Supervision -- The Case for Analytical Supervision - A Swedish Perspective -- Unintended Consequences of Supervision -- Influence and Incentives in Financial Institution Supervision -- Developments in...

We show that average excess returns during the last two years of the presidential cycle are significantly higher than during the first two years: 9.8 percent over the period 1948 2008. This pattern in returns cannot be explained by business-cycle variables capturing time-varying risk premia,...

We show that average excess returns during the last two years of the presidential cycle are significantly higher than during the first two years: 9.8 percent over the period 1948 2008. This pattern in returns cannot be explained by business-cycle variables capturing time-varying risk premia,...

The recent global financial crisis reconfirms the importance of risk management in defined benefit pension systems. To enhance sustainability, new forms of integrating the risk profiles of assets and liabilities should be considered. Specifically, by reducing the risk profile of assets, by...