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Reconciling transparency and long-term investing within sovereign funds

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  • Adam D. Dixon
  • Ashby H.B. Monk

Abstract

One of the potential consequences of the international community's focus on transparency and commercial orientation, when it comes to sovereign wealth funds, has been to shorten the latter's investment time horizons. As a result, these theoretically long-term investors are pressured into behaving like many short-term investors in the marketplace today, pushed by structural conditions that demand short-term performance in order to secure legitimacy. In evaluating the tension between transparency and long-term investing, we offer a conceptual framework for thinking through different types of transparency pertaining to the investment process as a means of discussing and communicating acceptable and non-acceptable asymmetric information in relation to financial performance.

Suggested Citation

  • Adam D. Dixon & Ashby H.B. Monk, 2012. "Reconciling transparency and long-term investing within sovereign funds," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 2(3-4), pages 275-286, October.
    • Handle: RePEc:taf:jsustf:v:2:y:2012:i:3-4:p:275-286
    DOI: 10.1080/20430795.2012.703126
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    Cited by:

    1. Martinez-Oviedo, Raul & Medda, Francesca, 2017. "Assessing the effects of adding timberland and farmland into resource-based Sovereign Wealth Fund portfolios," Journal of Economics and Business, Elsevier, vol. 91(C), pages 24-40.
    2. Caroline E Nowacki & Ashby Monk & Bertrand Decoster, 2021. "Who do sovereign wealth funds say they are? Using structural topic modeling to delineate variegated capitalism in their official reports," Environment and Planning A, , vol. 53(4), pages 828-857, June.
    3. Alvaro Cuervo-Cazurra & Anna Grosman & William L. Megginson, 2023. "A review of the internationalization of state-owned firms and sovereign wealth funds: Governments’ nonbusiness objectives and discreet power," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(1), pages 78-106, February.
    4. Gouett, Matthew, 2020. "New wealth, New wisdom: Updating the narrative of sovereign wealth fund creation," Resources Policy, Elsevier, vol. 65(C).

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