Nicola Cucari, Giorgia Tapino, Francesco Drigo, S. Carbonara
{"title":"如何提高养老基金参与度:意大利养老基金的研究建议","authors":"Nicola Cucari, Giorgia Tapino, Francesco Drigo, S. Carbonara","doi":"10.22495/ncpr_27","DOIUrl":null,"url":null,"abstract":"Given the economic weight of the assets managed and their social importance (due to their fiduciary duty towards their policyholders), PFs can influence and participate actively in the investee company’s decisions and literature has shown the importance of activism of this type of institutional investors (Gillan & Starks, 2000; Clark & Hebb, 2004). Institutional investors’ activism may be promoted through favourable legislation, but also through the adoption of good governance practices. Based on this framework, our aim is to understand what key issues that prevent PFs from being active owners and what possible solutions PFs could adopt in order to play an active role in the corporate governance of investee companies. Starting from pension funds’ difficulties, this paper develops a research proposal for describing and analysing the behaviour taken by pension funds and aims to present possible best practice.","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"14 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"How to improve the pension fund engagement: A research proposal for Italian pension funds\",\"authors\":\"Nicola Cucari, Giorgia Tapino, Francesco Drigo, S. Carbonara\",\"doi\":\"10.22495/ncpr_27\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Given the economic weight of the assets managed and their social importance (due to their fiduciary duty towards their policyholders), PFs can influence and participate actively in the investee company’s decisions and literature has shown the importance of activism of this type of institutional investors (Gillan & Starks, 2000; Clark & Hebb, 2004). Institutional investors’ activism may be promoted through favourable legislation, but also through the adoption of good governance practices. Based on this framework, our aim is to understand what key issues that prevent PFs from being active owners and what possible solutions PFs could adopt in order to play an active role in the corporate governance of investee companies. Starting from pension funds’ difficulties, this paper develops a research proposal for describing and analysing the behaviour taken by pension funds and aims to present possible best practice.\",\"PeriodicalId\":352139,\"journal\":{\"name\":\"New challenges in corporate governance: Theory and practice\",\"volume\":\"14 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1900-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"New challenges in corporate governance: Theory and practice\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.22495/ncpr_27\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"New challenges in corporate governance: Theory and practice","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22495/ncpr_27","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
How to improve the pension fund engagement: A research proposal for Italian pension funds
Given the economic weight of the assets managed and their social importance (due to their fiduciary duty towards their policyholders), PFs can influence and participate actively in the investee company’s decisions and literature has shown the importance of activism of this type of institutional investors (Gillan & Starks, 2000; Clark & Hebb, 2004). Institutional investors’ activism may be promoted through favourable legislation, but also through the adoption of good governance practices. Based on this framework, our aim is to understand what key issues that prevent PFs from being active owners and what possible solutions PFs could adopt in order to play an active role in the corporate governance of investee companies. Starting from pension funds’ difficulties, this paper develops a research proposal for describing and analysing the behaviour taken by pension funds and aims to present possible best practice.
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