Publication: Governance of Public Pension Funds : Lessons from Corporate Governance and International Evidence
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2003-08
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2014-04-30
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Abstract
An understanding of corporate governance theory can promote the adoption of appropriate governance tools to limit agency problems in public pension fund management. The absence of a market for corporate control hinders the translation of lessons from the private sector corporate world to public pension governance. The establishment of a fit, and proper governing body for public pension funds, thus may be even more important than the maintenance of a comparable body for private sector corporations. In particular, behavioral controls should be carefully designed.
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“Hess, David; Impavido, Gregorio. 2003. Governance of Public Pension Funds : Lessons from Corporate Governance and International Evidence. Policy Research Working Paper;No. 3110. © http://hdl.handle.net/10986/18125 License: CC BY 3.0 IGO.”
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