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A Matter of Voice: The Case for Abolishing the 30 percent Rule for Pension Fund Investments

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  • Poonam Puri

    (York University)

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    Abstract

    Pension fund managers have devised ways to effectively skirt the rule that limits them to acquiring no more than 30 percent of the shares eligible to vote for the directors of a corporation. It’s time for regulators to enforce the rule or eliminate it entirely, thereby giving pension funds a voice commensurate with their equity stake.

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    File URL: http://www.cdhowe.org/pdf/commentary_283.pdf
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    Bibliographic Info

    Article provided by C.D. Howe Institute in its journal C.D. Howe Institute Commentary.

    Volume (Year): (2009)
    Issue (Month): 283 (February)
    Pages:

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    Handle: RePEc:cdh:commen:283

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    Keywords: Canadian pension security; Canadian pension funds;

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Michael Parkin, 2009. "What is the Ideal Monetary Policy Regime? Improving the Bank of Canada's Inflation-targeting Program," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 279, January.
    2. Davis, E. Philip, 1998. "Pension Funds: Retirement-Income Security and Capital Markets: An International Perspective," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198293040, October.
    3. Douglas Cumming & Grant Fleming & Armin Schwienbacher, 2005. "Liquidity Risk and Venture Capital Finance," Financial Management, Financial Management Association, Financial Management Association, vol. 34(4), Winter.
    4. Miguel Cantillo., 1995. "The Rise and Fall of Bank Control in the United States: 1890-1920," Research Program in Finance Working Papers, University of California at Berkeley RPF-254-Rev, University of California at Berkeley.
    5. Alexandre Laurin & Colin Busby & Benjamin Dachis, 2009. "Out on a Limb: Assessing the Fiscal Sustainability and Effectiveness of the 2009 Federal Budget," e-briefs, C.D. Howe Institute 72, C.D. Howe Institute.
    6. Davis, E. Philip, 2002. "Prudent person rules or quantitative restrictions? The regulation of long-term institutional investors' portfolios," Journal of Pension Economics and Finance, Cambridge University Press, Cambridge University Press, vol. 1(02), pages 157-191, July.
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