5429 Discussion paper 14 / 08 PUBLIC PENSION GOVERNANCE AND ASSET ALLOCATION Matt
نویسنده
چکیده
This paper analyses the relationship between governance, asset allocation, and risk among state and local government-operated pension systems in the United States. It is argued that governance influences investment decisions and risk profiles of public sector pension systems, creating the potential for agency problems to exist between decision makers, plan members, and taxpayers. JEL Codes: J2, H7, D7, G2.
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