Cristin-resultat-ID: 948734
Sist endret: 21. januar 2015, 15:27
Resultat
Rapport
2012

Pension Funds, Sovereign-wealth Funds and Intergenerational Justice

Bidragsytere:
  • Alexander Wright Cappelen og
  • Runa Urheim

Utgiver/serie

Utgiver

Institutt for samfunnsøkonomi, Norges Handelshøyskole

Serie

NHH Dept. of Economics Discussion papers
ISSN 0804-6824

Om resultatet

Rapport
Publiseringsår: 2012
Hefte: 19/2012
Antall sider: 7

Beskrivelse Beskrivelse

Tittel

Pension Funds, Sovereign-wealth Funds and Intergenerational Justice

Sammendrag

Pension funds and sovereign-wealth funds own a large and increasing fraction of the shares in publicly traded companies in the OECD area. These funds typically have a very long time horizon on their investments, as well as highly diversified portfolios. These features imply that the interests of these funds on important issues are aligned with the interest of future generations because the longterm return on a highly diversified portfolio will depend on the degree to which the development of the world economy is sustainable. It is, therefore, in the enlightened self-interest of these investors to use their shareholder rights so as to protect the interest of future generations. The paper explores the arguments for a more active corporate governance policy among pension funds and sovereign-wealth funds and discusses the obstacles to such policies.

Bidragsytere

Alexander Wright Cappelen

  • Tilknyttet:
    Forfatter
    ved Institutt for samfunnsøkonomi ved Norges Handelshøyskole

Runa Urheim

  • Tilknyttet:
    Forfatter
    ved Norges Bank
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