Fund s table 4 estimated loss of income attributable

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: board elected by fund members (beneficiaries). fund s Table 4: Estimated loss of income attributable to lack of an Table independent board: $15 billion for 1985-1989 ! $15 Romano (1993): Public Pension Fund Activism s Table 6: No significant difference on social Table responsibility votes (on N. Ireland and Environment issues) between public and private plans. private – Suggests political pressure on public funds may Suggests be directed towards investment, not voting. be Romano (1993): Public Pension Fund Activism s Romano’s suggestion to the problem of Romano’s suboptimal investing by public pension plans: plans: – DEFINED CONTRIBUTION PLANS. State DEFINED employees (plan beneficiaries) can decide where to invest their retirement funds. where – Question: Proxy voting rights of shares owned Question: by a mutual fund reside with the fund managers. What is the record of mutual fund managers’ involvement in corporate governance matters? governance Del Guercio-Hawkins (1999) : Public Pension Fund Activism s Consider proposals submitted by the largest and most activist Consider pension fun...
View Full Document

Ask a homework question - tutors are online