IDEAS home Printed from https://ideas.repec.org/p/crp/wpaper/13.html
   My bibliography  Save this paper

Institutional Investors, Corporate Governance and Pension Funds

Author

Listed:
  • Michela Scatigna

    (Bank for International Settlements)

Abstract

This paper presents an analysis on how the expected development of pension funds in Italy will contribute toenhance corporate governance. The existing evidence on this issue comes mainly from the Anglo Saxon countries but it does notshow unequivocal effectiveness of activism on firm performance. In Italy the current design of pension funds governance substantially mirrors that of UK, where pension funds as well as life insurance companies show a preference for passivity instead of activism. Evidence from countries such as Japan and Israel, that are similar to Italy from a corporate governance point of view, is also included in order to better understand the perspectives for Italy. All in all, the private funds industry seems to be characterized by several group-affiliated institutional investors whose investment policy is likely to be plagued by conflicts of interest similar to those existing in Japan and Israel. Supervision by market authorities and performance-related managerial compensation would help mitigating this problem.

Suggested Citation

  • Michela Scatigna, 2001. "Institutional Investors, Corporate Governance and Pension Funds," CeRP Working Papers 13, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    • Handle: RePEc:crp:wpaper:13
    as

    Download full text from publisher

    File URL: http://www.cerp.carloalberto.org/wp-content/uploads/2008/12/wp_13.pdf?d2641f
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:crp:wpaper:13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Silvia Maero (email available below). General contact details of provider: https://edirc.repec.org/data/cetorit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.